Governor Gavin Newsom fire It swept Los Angeles County last month.
Under a plan that must be approved by the state legislature, people at risk of foreclosure will be directly relieved and more than $100 million in relief will be directly received. Another $25 million will help fund mortgage consultations and help people navigate disaster assistance.
According to Newsom’s office, the relief package will be made by then-mortgage settlement Kamala Harris and the big lenders to reach the big lender instead of the state budget. California housing finance institutions oversee the funds and their board of directors debated the proposal Thursday.
For many in Los Angeles County, the money may be crucial. The fire last month destroyed or severely damaged more than 12,000 homes, but did not eliminate the obligation that homeowners must pay their mortgages.
As a result, many people are not only sanctioning Destroyed homebut temporary housing is to be rented out. Insurance Payments can help pay for such fees, but worrying about spending is not enough, especially for those who are inadequate in the policyholder.
Mortgage relief will be more than limited to the Los Angeles fire. To be eligible, homeowners must destroy or severely damage their property since January 1, 2023.
“As survivors recover from the trauma of recent disasters, the threat of foreclosure should be their last thing,” Newsom said in a statement. “This disaster mortgage relief program will help increase this A burden and give families more time to focus on recovery.”
At the same time, some temporary help was provided.
Newsom has previously announced a deal with several large banks and hundreds of state-licensed lenders to provide fire victims with simplified procedures to stop 90 days in mortgage payments.
bill Filed in the state legislature will also delay mortgage payments for a year for people with financial difficulties associated with the fire.
