Five major banks have agreed to provide mortgage relief to customers affected by wildfires that have ravaged thousands of homes, businesses and structures in the Los Angeles area, California Gov. Gavin Newsom said.

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.

More than 12,000 homes, businesses and other structures have been confirmed as damaged or destroyed in the Eaton and Palisades fires in an area already in the midst of a deep affordable housing