CosmicTaco

California Proposes $125M Wildfire Mortgage Relief

CosmicTaco · 2025-02-20T12:07:59.427862+05:30

- Governor Gavin Newsom has proposed a $125 million mortgage relief program for wildfire victims dating back to 2023. - The funding will come from settlement funds secured from big banks during the mortgage crisis. - The proposal includes extending counseling services to help homeowners navigate their recovery. - The California Housing Finance Agency will consider the proposal on Thursday. - State Farm General's request for an emergency insurance rate increase was recently denied by the insurance commissioner. Source: [Abc7](https://abc7.com/post/southern-california-wildfire-relief-gov-gavin-newsom-proposes-125m-mortgage-fire-victims/15933841/), [Newsweek](https://www.newsweek.com/california-homeowners-get-mortgage-help-under-new-plan-2033509)

Governor Gavin Newsom has proposed a $125 million mortgage relief program for wildfire victims dating back to 2023.
The funding will come from settlement funds secured from big banks during the mortgage crisis.
The proposal includes extending counseling services to help homeowners navigate their recovery.
The California Housing Finance Agency will consider the proposal on Thursday.
State Farm General's request for an emergency insurance rate increase was recently denied by the insurance commissioner.

Source: Abc7, Newsweek