Newsom announces 90-day mortgage payment grace period for people impacted by COVID-19

California
Gavin Newsom

California Gov. Gavin Newsom give an update to the state’s response to the coronavirus, at the Governor’s Office of Emergency Services in Rancho Cordova Calif., Tuesday, March 17, 2020. At right is California Health and Human Services Agency Director Dr. Mark Ghaly. (AP Photo/Rich Pedroncelli, Pool)

SACRAMENTO, Calif. (KSEE/KGPE) — Governor Gavin Newsom announced that the state has reached an agreement on Wednesday with some of the nation’s largest banks on a 90-day grace period for mortgage payments for people impacted by COVID-19.

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Newsom said the grace period applies for customers with mortgages from Wells Fargo, Citi, JPMorgan Chase and U.S. Bank during a press conference live-streamed through social media from the Governor’s Office of Emergency Services headquarters near Sacramento.

The governor added that Bank of America only committed to offering a 30-day grace period for mortgages by people affected by the coronavirus. He hopes that the bank reconsiders their position.

Newsom said there was no income requirement to apply but customers would need documents to prove their situation. He urged Californians to take the time to gather the documents before swamping the banks’ call centers.

This story will be updated.

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