Natural disaster victims would get six months of mortgage relief under Senate bill

LOS ANGELES — Natural disaster survivors would be eligible for six months of mortgage relief under a bill introduced Thursday by two senators whose states have been ravaged by wildfires and floods.

LOS ANGELES — Natural disaster survivors would be eligible for six months of mortgage relief under a bill introduced Thursday by two senators whose states have been ravaged by wildfires and floods.

The Mortgage Relief for Disaster Survivors Act would apply to homeowners with federally backed loans in areas declared disasters since Jan. 1 without accumulating interest or penalties during the six-month period. Borrowers could apply for additional six-month extensions.

“Earlier this year, we watched as families in Los Angeles were devastated by wildfires, and to date, many homeowners are still struggling to rebuild from this disaster,” said Sen. Adam Schiff, D-Calif., who is co-sponsoring the bill.

“As natural disasters become more frequent due to climate change, it is critical that we pave a path to stability for homeowners in times of crisis,” he added.

Parts of Schiff’s former congressional district in Southern California were devoured in January when the Eaton Fire tore through Altadena, destroying nearly 6,000 homes and killing at least 19 people.