Five major banks will offer homeowners up to three months of forbearance on mortgage payments in areas devastated by the Southern California wildfires.

California Gov. Gavin Newsom announced commitments from five major financial institutions that will offer mortgage relief for property owners affected by the Los Angeles area fires.

Gov. Gavin Newsom announced Saturday that five of America’s biggest financial institutions will be providing mortgage relief to residents affected by the Southern California wildfires. Newsom’s office announced that the commitments were made by Bank of America,