By lobbying banks for an additional three years of mortgage payment relief for wildfire victims, is LA Mayor Karen Bass admitting it will take four years to rebuild?
Bass has called on banks and mortgage providers to extend mortgage payment relief for homeowners recovering from the January wildfires, proposing three additional years beyond the one year provided under state law.
Under Bass’ proposal, homeowners would receive a total of four years of payment relief, with the deferred payments added to the end of their existing mortgages without additional fees, penalties or negative credit impacts.
The average time to build a home in America is 7 to 12 months. In California it takes 12 to 26 months, according to the 2024 US Census.
