Bill > AB1847

This bill extends and modifies mortgage forbearance options for homeowners impacted by specific wildfires declared as states of emergency in January 2025. It increases the maximum forbearance period from 12 months to 36 months and pushes the deadline for borrowers to request this relief to January 7, 2029. Additionally, it requires mortgage servicers, which are companies that manage mortgage payments, to offer borrowers the option to defer repayment of the forborne amounts to the end of their loan term, unless prohibited by investor contracts or servicing guidelines. The bill also clarifies that borrowers who were current on their loans before entering forbearance cannot be required to make a lump-sum payment to catch up on missed payments.

Budget and Finance

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB1847