RISMedia's Real Estate Magazine

SEP 2018

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/1017650

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Page 46 of 134

42 September 2018 RISMedia's REAL ESTATE Meanwhile, the Ranch and River Fires in Mendocino County had de- stroyed over 9,000 structures (41 of which were residences), and burned through 218,319 and 48,663 acres, respectively. Outside of Yosemite Na- tional Park, the Ferguson Fire—only 38 percent contained—was continu- ing to grow, burning through 89,633 acres so far. Over 35,000 were ordered to evac- uate at the peak of the wildfires. The White House approved FEMA-provid- ed disaster assistance, allowing af- fected Californians to apply for home repairs, temporary housing, loans to cover uninsured property losses, and more. Fannie Mae and Freddie Mac also announced disaster relief policies for people whose homes or places of employment have been affected by the historic wildfires. Disaster re- lief options are available to borrow- ers with homes in FEMA-declared disaster areas where individual as- sistance programs have been made available to affected individuals and households. Options for affected borrowers in these areas may include: • Suspending foreclosures by pro- viding forbearance for up to 12 months. • Waiving assessments of penalties or late fees against borrowers with disaster-damaged homes. In areas where FEMA has not made individual assistance available, mort- gage servicers may leverage forbear- ance programs to provide immediate mortgage relief to borrowers that have been affected by the devastat- ing wildfires. Local associations are also in- tegrally involved in the relief effort. "The California Association of REAL- TORS® (C.A.R.) has a Disaster Re- lief Fund to help REALTOR® family members who have been impacted by any natural disaster," according to the organization. "The Association established the fund in the wake of the 2003 California wildfires. Grants provided by the fund are used to help members of the REALTOR® family— REALTORS®, their staff and Associa- tion members and their staff—who have incurred substantial losses due to wildfires and other disasters by distributing grants of $1,000 to $10,000." According to C.A.R., donations can be made online, or directly to the Cal- ifornia Community Foundation (221 S. Figueroa St., Ste. 400, Los Ange- les, CA 90012). Checks are payable to the California Community Foun- dation, with "C.A.R. Disaster Relief Fund" in the memo. In 2017, wildfires claimed the lives of 46 people and destroyed al- most 12,000 structures, according to CAL FIRE. RE Liz Dominguez is RISMedia's associate content editor. Email her your real estate news ideas at ldominguez@rismedia.com. Deadly California Wildfires Claim Lives and Real Estate Fires Impact Northern California by Liz Dominguez T he Carr Fire—the largest of the 17 fires ravaging Northern California (at press time), and the fourth most destructive in the state's history—had claimed the lives of seven people and burned through 160,049 acres across Shasta and Trinity counties, as well as destroyed over 1,000 homes, 24 commercial buildings and 500 other structures, according to the California Department of Forestry and Fire Protection (CAL FIRE). Forty-three percent of the blaze had been contained at the time of this article.

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