Wildfires

California sellers of older homes in high-risk areas must disclose to potential buyers not only a dwelling's susceptibility to fire but what they've done to address those vulnerabilities.

Borrowers affected by the blazes are also reeling from homeowners insurance woes, contractor shortages and inflation making rebuilding difficult.

The Senate bill would make forbearance available to homeowners directly impacted by extreme-weather events, including 2025 California wildfire victims.

The state forecasts eroding coastlines will endanger $18 billion of existing homes and commercial buildings in the coming decades.

Even before January's fires in Los Angeles, change-of-address data shows residential moves based on fire risks and insurance availability.

Insurers had already doled out more than $12 billion to pay for wildfire damages as of early March, according to California state officials.

The measure applies to mortgages closed in the months prior to the Southern California wildfires, which are now experiencing early-stage distress.

The provisionally approved rate hike would provide financial relief to State Farm's California subsidiary, which has said it needs to shore up confidence with solvency regulators and ratings agencies.

As climate change causes more frequent disasters, more mortgages are at risk of going underwater. How can banks limit their exposure?

California leads the nation with over 1.5 million at-risk properties, but many threatened homes sit east including $68 billion worth of Florida real estate.