Gov. Newsom proposes $125M mortgage relief for wildfire victims

California Governor Gavin Newsom has proposed a $125 million mortgage relief package for homeowners affected by recent wildfires and other natural disasters dating back to January 2023. The plan includes over $100 million in direct financial assistance for those at risk of foreclosure and an additional $25 million for mortgage counseling services. Funded through existing mortgage settlement funds, the proposal aims to alleviate the financial burden for victims of disasters like the Park and Franklin fires. The California Housing Finance Agency (CalFHA) will oversee the program, which is set to be debated in an upcoming meeting. Newsom emphasized that the relief will allow families to focus on their recovery without the looming threat of foreclosure. This initiative complements other state measures, including extended tax deadlines for affected residents.