Welcome back, Dreammakers, to Today in Mortgages! In this episode, hosts Michael and Richard talk about the devastating California fires and the consequences. Today’s article is from Reuters.com: “Biggest US banks ready mortgage relief for victims of Los Angeles wildfires.” The article discusses ways banks are helping victims thru different measures, including forbearance which gives borrowers a break on the payments.

Unfortunately, many of the homes were uninsured or lacked fire insurance, because providers pulled out of that state. Whenever the recovery starts to happen, is there any risk to mortgage providers? Not really, rates could be a little higher, because there is more risk involved, but lenders will always find a way to lend money. Listen in as we discuss this and more!

Listen in to learn about this and more!

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