{"id":24630,"date":"2026-01-06T21:04:49","date_gmt":"2026-01-06T21:04:49","guid":{"rendered":"https:\/\/www.insurancejournal.com\/?p=853330"},"modified":"2026-01-06T21:04:49","modified_gmt":"2026-01-06T21:04:49","slug":"jpmorgan-citi-extending-mortgage-relief-for-la-wildfire-victims","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2026\/01\/06\/jpmorgan-citi-extending-mortgage-relief-for-la-wildfire-victims\/","title":{"rendered":"JPMorgan, Citi Extending Mortgage Relief for LA Wildfire Victims"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/www.insurancejournal.com\/img\/social\/opengraph\/ij-social-wildfire-1200x630.png\" class=\"ff-og-image-inserted\"><\/div>\n<ul class=\"nav nav-tabs tabs tabs-entry\">\n<li class=\"active\"><a href=\"https:\/\/www.insurancejournal.com\/news\/west\/2026\/01\/06\/853330.htm\">Article<\/a><\/li>\n<li><a href=\"https:\/\/www.insurancejournal.com\/news\/west\/2026\/01\/06\/853330.htm?comments\" rel=\"nofollow\">0 Comments<\/a><\/li>\n<\/ul>\n<div class=\"article-content clearfix\">\n<p class=\"bloomberg\">California Gov. Gavin Newsom said a group of major banks have agreed to extend mortgage relief for Los Angeles wildfire victims, as the area struggles to rebuild one year after the devastating blazes.<\/p>\n<p>Wells Fargo &amp; Co., JPMorgan Chase &amp; Co., U.S. Bancorp and Citigroup Inc. will streamline requests for an additional 90-day forbearance period, allowing borrowers to apply verbally without paperwork, Newsom said on a press release Tuesday. Bank of America Corp. announced in November that it will offer qualifying borrowers up to two additional years of forbearance.<\/p>\n<div class=\"bzn bzn-sized bzn-intext\">\n<ins data-revive-zoneid=\"79\" data-revive-topics=\"catastrophe,natural-disasters,wildfire\" data-revive-companies data-revive-block=\"1\" data-revive-id=\"36eb7c2bd3daa932a43cc2a8ffbed3a9\"><\/ins> <\/div>\n<p><strong>Related: <a href=\"https:\/\/www.insurancejournal.com\/news\/west\/2026\/01\/06\/853253.htm\">Morningstar: A Year Later, LA Wildfires Were \u2018Significant Stress Event\u2019 for Insurance<\/a><\/strong><\/p>\n<p>Most lenders limit forbearance to 12 months under a California law that expanded an emergency agreement the state had reached with banks in January 2025. Wells Fargo, JPMorgan, Citi and U.S. Bancorp didn\u2019t immediately reply tor a request for further comment.<\/p>\n<p>Last year, the Intercontinental Exchange Inc. estimated that there was $11 billion in outstanding mortgage debt in the path of the fires.<\/p>\n<p>Newsom, a termed out governor who\u2019s considering a presidential run, has faced renewed criticism from the White House and other political adversaries for his handling of the catastrophic wildfires, which tore through large swaths of Southern California last year and killed at least 31 people. Newsom, in turn, has blasted the White House for failing to send California\u2019s disaster aid request to Congress.<\/p>\n<p><strong>Related: <a href=\"https:\/\/www.insurancejournal.com\/news\/west\/2026\/01\/05\/853108.htm\">Insurance Payments Now at $22.4B From LA Wildfires One Year Ago<\/a><\/strong><\/p>\n<p>On Tuesday, Newsom also announced he will work with banks, philanthropic partners and lawmakers on a new financing fund that would complement private construction loans and help close insurance shortfalls that have stalled rebuilding. He\u2019s also expanding eligibility for its CalAssist Mortgage Relief Program, which provides grants covering up to three months of mortgage payments. The state has so far paid $5.98 million to 732 households, mostly fire survivors.<\/p>\n<p>\u201cI\u2019m deeply grateful to our financial partners who are stepping up to help provide financial relief to those who have lost so much,\u201d Newsom said. \u201cThis disaster was unprecedented, and it\u2019s created challenges unlike anything we\u2019ve seen before.\u201d<\/p>\n<div class=\"copyright-notice quiet\">Copyright 2026 Bloomberg.<\/div>\n<p class=\"tagtag\"> <span class=\"tagtag\">Topics<\/span> <a href=\"https:\/\/www.insurancejournal.com\/catastrophe\/\" class=\"btn btn-sm btn-primary tagtag\">Catastrophe<\/a> <a href=\"https:\/\/www.insurancejournal.com\/natural-disasters\/\" class=\"btn btn-sm btn-primary tagtag\">Natural Disasters<\/a> <a href=\"https:\/\/www.insurancejournal.com\/wildfire\/\" class=\"btn btn-sm btn-primary tagtag\">Wildfire<\/a> <a href=\"https:\/\/www.insurancejournal.com\/location\/louisiana\/\" class=\"btn btn-sm btn-primary tagtag\">Louisiana<\/a> <\/p>\n<\/p><\/div>\n<div class=\"article-poll\" data-post=\"853330\">\n<div class=\"article-poll-vote\">\n<p>Was this article valuable?<\/p>\n<\/p><\/div>\n<div class=\"article-poll-feedback voted-no\">\n<form class=\"feedback-form\">\n<p>Thank you! Please tell us what we can do to improve this article.<\/p>\n<p> <textarea placeholder=\"Enter your feedback...\"><\/textarea> <button type=\"submit\" class=\"submit\" disabled>Submit<\/button> <button class=\"cancel\">No Thanks<\/button> <\/form>\n<\/p><\/div>\n<div class=\"article-poll-feedback voted-yes\">\n<form class=\"feedback-form\">\n<p>Thank you! <span class=\"percent\"><\/span>% of people found this article valuable. Please tell us what you liked about it.<\/p>\n<p> <textarea placeholder=\"Enter your feedback...\"><\/textarea> <button type=\"submit\" class=\"submit\" disabled>Submit<\/button> <button class=\"cancel\">No Thanks<\/button> <\/form>\n<\/p><\/div>\n<div class=\"article-poll-more-articles\">\n<p class=\"thank-you-text\">Here are more articles you may enjoy.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"subscribe-banner subscribe-banner-in-content-2\">\n<div class=\"content\">\n<h4>Interested in <em>Catastrophe<\/em>?<\/h4>\n<p>Get automatic alerts for this topic.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Article 0 Comments California Gov. Gavin Newsom said a group of major banks have agreed to extend mortgage relief for Los Angeles wildfire victims, as the area struggles to rebuild one year after the&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":24631,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[995,275,154,1353,1,9],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2026\/01\/jpmorgan-citi-extending-mortgage-relief-for-la-wildfire-victims.png","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/24630"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=24630"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/24630\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/24631"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=24630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=24630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=24630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}