Nearly a year and a half after the deadly Palisades and Eaton fires, Gov. Gavin Newsom is proposing a $100 million state fund aimed at helping Los Angeles wildfire victims rebuild homes that insurance payouts won’t fully cover. The proposal, set to be included in Newsom’s revised 2026-27 budget plan, would backstop construction loans for fire victims through loan-loss guarantees, lowering the risk for lenders and making financing more accessible for borrowers who otherwise might not qualify, the Los Angeles Times reported. Through the loan-loss guarantees, the state would commit to paying back a percentage of a loan amount if […]
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