CALIFORNIA: Banks Agree To 90-Day Mortgage Freeze

Courthouse News reports:

California Gov. Gavin Newsom delivered a dose of good news for homeowners on Wednesday, announcing the nation’s largest banks will voluntarily freeze mortgage payments for 90 days on families mired in the Covid-19 crisis.

Newsom said the agreement is the result of weeks of negotiations with the heads of banks like Wells Fargo, U.S. Bank, JPMorgan Chase and Citi as well as over 200 state banks and credit unions. The nonbinding agreement won’t have an income restriction, but applicants will have to document pandemic-related hardships.