Steps to Take After a Wildfire: Supporting Our LA Families

Wildfires can bring unimaginable challenges, and we understand how deeply these events affect our clients and their families. Below are actionable steps to help you recover and navigate the aftermath of a wildfire with clarity and confidence.

1. Handle Homeowner’s Insurance Matters

Submit Your Claim Immediately: Go online or call your insurance provider to file a claim.

• Request a copy of your insurance policy for review.
  • Confirm with your insurance representative the following key details:
    • Dwelling coverage amount.
    • Personal property coverage.
    • Coverage for bringing the home up to current building codes.
    • Living expense coverage duration and amount.
    • Policy deductible and adjuster availability timeline.
• California Department of Insurance provided this PDF of Top Ten Tips for Wildfire Claimants.
• Document Your Losses:
  • Locate any videos or photos of your home and belongings as proof of value.
  • Provide a copy of this documentation to your adjuster.
• Meet with the Insurance Adjuster:
  • Confirm support for locating temporary housing rentals.
  • Clarify payment timing and method from the insurance provider.
  • Arrange for an on-site meeting at your property, if possible.

2. Secure Temporary Shelter

Find short-term housing as close as possible to your property for easier access during rebuilding and recovery.

3. Contact Your Mortgage or Loan Servicer

• Determine Your Loan Type:
  • Conforming Loans (government-backed): You may qualify for payment forbearance or assistance.
  • Non-Conforming Loans (jumbo loans): Forbearance may not be guaranteed but still explore options with your lender.
• Contact your loan servicer promptly to discuss payment relief or alternatives, such as:
  • Forbearance agreements: loans backed by Fannie Mae can be in forbearance for up to six months with possible extensions thereafter.
  • Loan modifications.
  • Homeowner Bill of Rights protections if applicable.
• Follow up in writing and seek legal guidance if necessary.

4. Leverage State, Government, and FEMA Assistance

Available Resources:

• California State Tax Relief
  California has announced tax relief for those affected by the recent wildfires. You can find more information here: California Provides Tax Relief.
• IRS Tax Relief
  The IRS is offering tax relief to wildfire victims, including postponed deadlines for filings and payments. More details are available here: IRS Relief for Wildfire Victims.
• Los Angeles City Recovery Assistance
  The city of Los Angeles has put recovery resources in place for residents impacted by the fires. Visit this link for more information: LA City Recovery.
• FEMA Assistance
  FEMA is offering assistance to individuals affected by the fires. You can learn more and apply for help here: FEMA Wildfire Assistance.
• Inquire about grants, low-interest loans, or housing assistance.

5. Coordinate with Your Child’s School

Contact your school district to discuss temporary learning accommodations or resources if your child’s schooling is disrupted.

6. Understand Your Legal Rights

Familiarize yourself with protections under the Homeowner Bill of Rights, which may provide options like:

• Loan modifications.
• Refinancing.
• Alternatives to foreclosure.

7. Proactive Communication is Key

• Document all interactions with insurers, lenders, and government agencies.
• Keep copies of all communications, agreements, and policy documents.
• Don’t hesitate to seek professional advice, including legal and financial advisors.

Recovering after a wildfire is a journey, but you don’t have to face it alone. Contact trusted professionals like your Wealth Advisor to guide you through the complexities of insurance, loans, and rebuilding.

As you navigate the next few months, we’re here to provide compassionate support and practical solutions every step of the way.