Relief coming for Californians with lost paychecks, looming mortgage bills

Gov. Gavin Newsom announced Wednesday that four of the nation’s five largest banks have agreed to suspend mortgage payments for 90 days for California homeowners affected by the coronavirus.

Wells Fargo, JPMorgan Chase, Citibank and U.S. Bank, along with about 200 state-chartered banks and credit unions, agreed to the 90-day grace period, he said.

Congress, meanwhile, was struggling to pass a stimulus bill that would provide most Americans with direct payments of $1,200 for each adult and $500 for each child younger than 17. The bill also would provide expanded unemployment benefits, even to those who are not eligible for regular state unemployment benefits because they are self-employed, haven’t worked long enough or ran out of benefits. …

Click here to read the full article from the San Francisco Chronicle

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