Gov. Gavin Newsom wants to use $125 million to pay for people who have lost their homes in recent wildfires and face the threat of foreclosure.

California Governor Gavin Newsom Proposes $125 Million in Mortgage Relief to Benefit Victims of the Park, Franklin, Palisades, and Eaton Fires

A new mortgage relief program for Californians who've had their homes destroyed by recent natural disasters is in the works.

The California Housing Finance Agency expects to begin a $125 million mortgage relief program to benefit victims of recent wildfires and other natural disasters by June 1. The program, which taps funds from a legal settlement fund created after major lenders were accused of misconduct during the subprime mortgage crisis in 2008,