California Mortgage Relief Act provides forbearance for borrowers with uninhabitable homes due to disasters.

The California Mortgage Relief Act allows borrowers to request forbearance on residential mortgage loans if their homes are uninhabitable due to a disaster. Mortgage servicers must offer an initial forbearance period of 180 days, extendable in 90-day increments up to 12 months. Servicers must notify borrowers within 10 business days if their request is approved, denied, or deficient. Denials must include specific reasons and allow borrowers to cure defects. Servicers must also provide information on postforbearance repayment plans and deadlines.

California Mortgage Relief Act provides forbearance for borrowers with uninhabitable homes due to disasters.

The California Mortgage Relief Act allows borrowers to request forbearance on residential mortgage loans if their homes are uninhabitable due to a disaster. Mortgage servicers must offer an initial forbearance period of 180 days, extendable in 90-day increments up to 12 months. Servicers must notify borrowers within 10 business days if their request is approved, denied, or deficient. Denials must include specific reasons and allow borrowers to cure defects. Servicers must also provide information on postforbearance repayment plans and deadlines.