An empty lot and new construction in Altadena (Photo – W.K.)
Two wildfire recovery bills aimed at easing financial burdens on California homeowners have advanced out of the Assembly Committee on Banking, according to an announcement from Assemblymember John Harabedian (D-Pasadena).
By News Desk
The legislation—AB 1842 and AB 1847—focuses on providing mortgage relief to residents affected by natural disasters, particularly recent wildfires. AB 1842 would ensure that homeowners are not required to make mortgage payments on properties deemed uninhabitable due to disasters, while AB 1847 would extend the state’s Mortgage Forbearance Act for an additional two years for those impacted by the Eaton and Palisades wildfires.
State lawmakers say increasingly frequent and severe natural disasters have caused lasting damage across California, leaving many families displaced and facing steep rebuilding costs, insurance delays, and labor shortages. These challenges have significantly extended recovery timelines for affected communities.
AB 1842 seeks to establish a clear, statewide forbearance process during declared emergencies, allowing eligible homeowners to temporarily pause mortgage payments. Supporters argue this measure would provide stability and prevent further financial strain during already difficult recovery periods.
Meanwhile, AB 1847 is designed to reduce ongoing mortgage pressures specifically for communities impacted by the Eaton and Palisades fires, helping to support long-term recovery and housing stability.
“It is essential to continue providing support and relief to communities as they recover from wildfires,” Harabedian said in a statement. “By providing mortgage relief, we can foster stronger community recovery efforts, ensure that families remain housed, and reduce displacement that families and communities face.”
With recovery efforts from recent wildfires still ongoing, both bills aim to strengthen long-term stability for affected homeowners and communities across the state.
Leave a Reply