California announces mortgage relief during crisis

As over 1 million Californians have applied for unemployment since March 13, California Governor Gavin Newsom has announced that 4 of the 5 largest banks have agreed to defer mortgage payments for up to 90 days in the wake of the COVID-19 health crisis.

Citibank, Wells Fargo, U.S. Bank, and J.P. Morgan Chase, along with hundreds of smaller lending companies have agreed to the deferment. Only Bank of America has not agreed to the plan but said they have their own deferment conducted on a month-by-month basis.

The Governor also issued an executive order giving local counties and cities the power to halt evictions during the crisis.

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