{"id":98070,"date":"2020-03-25T19:28:47","date_gmt":"2020-03-26T02:28:47","guid":{"rendered":"http:\/\/69.46.6.243\/?p=98070"},"modified":"2020-03-25T19:28:47","modified_gmt":"2020-03-26T02:28:47","slug":"governor-newsom-announces-financial-relief-package-90-day-mortgage-payment-relief-during-covid-19-crisis","status":"publish","type":"post","link":"https:\/\/new.thepinetree.net\/?p=98070","title":{"rendered":"Governor Newsom Announces Financial Relief Package: 90-Day Mortgage Payment Relief During COVID-19 Crisis"},"content":{"rendered":"<p>Sacramento, CA&#8230;Governor Gavin Newsom today announced that financial institutions will provide major financial relief for millions of Californians suffering financially as a result of the COVID-19 outbreak.  \u201cMillions of California families will be able to take a sigh of relief,\u201d said Governor Newsom. \u201cThese new financial protections will provide relief to California families and serve as a model for the rest of the nation. I thank each of the financial institutions that will provide this relief to millions of Californians who have been hurt financially from COVID-19.\u201d<\/p>\n<p><iframe loading=\"lazy\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/rbCKCQESdiI\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p>Governor Newsom secured support from Citigroup, JPMorgan Chase, U.S. Bank, and Wells Fargo and nearly 200 state-chartered banks, credit unions, and servicers to protect homeowners and consumers.<\/p>\n<p>Under the Governor\u2019s proposal, Californians who are struggling with the COVID-19 crisis may be eligible for the following relief upon contacting their financial institution:<\/p>\n<p>90-Day Grace Period for Mortgage Payments<\/p>\n<p>Financial institutions will offer, consistent with applicable guidelines, mortgage payment forbearances of up to 90 days to borrowers economically impacted by COVID-19. In addition, those institutions will:<\/p>\n<p>Provide borrowers a streamlined process to request a forbearance for COVID-19-related reasons, supported with available documentation;<br \/>\nConfirm approval of and terms of forbearance program; and<br \/>\nProvide borrowers the opportunity to request additional relief, as practicable, upon continued showing of hardship due to COVID-19.<br \/>\nNo Negative Credit Impacts Resulting from Relief<\/p>\n<p>Financial institutions will not report derogatory tradelines (e.g., late payments) to credit reporting agencies, consistent with applicable guidelines, for borrowers taking advantage of COVID-19-related relief.<\/p>\n<p>Moratorium on Initiating Foreclosure Sales or Evictions<\/p>\n<p>For at least 60 days, financial institutions will not initiate foreclosure sales or evictions, consistent with applicable guidelines.<\/p>\n<p>Relief from Fees and Charges<\/p>\n<p>For at least 90 days, financial institutions will waive or refund at least the following for customers who have requested assistance:<\/p>\n<p>Mortgage-related late fees; and<br \/>\nOther fees, including early CD withdrawals (subject to applicable federal regulations).<br \/>\nClick here for details on how to apply for relief. Loans held by a financial institution may be serviced by another company.<\/p>\n<p>Please note that financial institutions and their servicers are experiencing high volumes of inquiries.<\/p>\n<p>###<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sacramento, CA&#8230;Governor Gavin Newsom today announced that financial institutions will provide major financial relief for millions of Californians suffering financially as a result of the COVID-19 outbreak. \u201cMillions of California families will be able to take a sigh of relief,\u201d said Governor Newsom. \u201cThese new financial protections will provide relief to California families and serve [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":98071,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_cbd_carousel_blocks":"[]","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,20,149,5,1],"tags":[],"class_list":["post-98070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-featured","category-financial","category-government","category-news","last_archivepost"],"jetpack_featured_media_url":"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2020\/03\/Fullscreen-capture-3252020-72318-PM.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/98070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=98070"}],"version-history":[{"count":0,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/98070\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/media\/98071"}],"wp:attachment":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=98070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=98070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=98070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}