Managing Mortgages After Wildfire Damage:

A Guide for LA Property Owners

The devastating wildfires in Los Angeles have left many property owners facing the challenging reality of paying mortgages on structures that are damaged or destroyed. At Ronin Restoration, we understand the financial and emotional toll disasters can bring, and we’re here to help you navigate the recovery process.

What Happens to Your Mortgage After a Fire?

Even if your property is destroyed, mortgage payments don’t stop. Communicating with your lender is essential. In some cases, you may qualify for mortgage forbearances, which temporarily pause payments, but these options can affect your credit.

Navigating Insurance Claims

Insurance policies typically include provisions to help during disasters:

  • Loss of Use Coverage: Provides funds for temporary living or business interruption expenses.
  • Personal Property Coverage: Covers the replacement of belongings or inventory. Maintaining an up-to-date inventory list simplifies this process.
  • Structural Replacement Coverage: Helps rebuild or repair the damaged property.

Contacting your insurance provider and a restoration expert, like Ronin Restoration, can streamline the claims process.

Relief Options to Consider

  • Mortgage Forbearance: Allows temporary suspension of payments. Contact your lender to learn your options.
  • FAIR Plan Insurance: Offers last-resort coverage for those unable to secure standard insurance. However, it often provides minimal benefits.
  • Federal-Backed Loans: May offer structured assistance compared to private jumbo loans.

Ronin Restoration Is Here to Help

Our Rapid Response Team is ready to assist you with insurance claims, FEMA resources, and recovery services. With 24/7 availability and a focus on Speed and Purpose, we ensure you get back on your feet quickly.

Important Resources

Contact Ronin Restoration now at (916) 444-5700 for expert guidance, rapid response, and comprehensive restoration services. Together, we’ll help you rebuild and restore your property with care and efficiency.

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