Altadena Nonprofit Launches Program to Help Eaton Fire Survivors Bridge Rebuilding Costs

A nonprofit founded by Eaton Fire survivors has launched a new program aimed at helping Altadena homeowners overcome one of the biggest obstacles to rebuilding after the January 2025 wildfire: the gap between insurance payouts and the actual cost of reconstruction.

Altadena Land Initiatives (ALI), a nonprofit established by longtime Altadena residents and Eaton Fire survivors Ursula Hyman and Manny Abascal, announced the launch of its Gap Rebuild Program, which combines zero-interest construction financing with a network of pre-selected builders to help eligible homeowners return to their properties.

The organization said many homeowners face rebuilding shortfalls of 40% to 50% after insurance proceeds are exhausted, leaving families unable to afford reconstruction despite receiving settlements.

The program provides zero-interest construction gap loans through Cathay Bank while simplifying the rebuilding process by connecting homeowners with builders vetted for experience, pricing, availability and commitment to Altadena’s recovery. According to the nonprofit, it also offers administrative assistance, including insurance reviews intended to maximize available recovery funds.

“Altadena is our home,” Hyman said in a statement. “We founded ALI because homeowners deserve a clear, community-driven solution to rebuild and stay. Preserving homeownership is essential to protecting the character and stability of our neighborhoods.”

Unlike traditional lending programs, ALI said it purchases each loan after it is issued, allowing the nonprofit to serve as the financial backer for each project.

As homeowners receive settlement funds, including anticipated payments from Southern California Edison, and repay their loans, the money will be recycled to finance additional rebuilding projects.

The program was developed after working with several pilot families and is now available to additional eligible homeowners, according to the organization.

Homeowners Nate and Molly Perkins, who participated in the pilot program, said the financing provided a way to rebuild after they believed they had exhausted their options.

“People assume that if you have insurance, you can rebuild,” the couple said in a joint statement. “There is a staggering gap between what it costs to rebuild and what families have. ALI gave us a path forward with the confidence that we can rebuild our lives when we thought we had run out of options.”

ALI cited data from Department of Angels showing that, as of May 2026, nearly 40% of Eaton and Palisades fire survivors had exhausted or were about to exhaust temporary housing insurance benefits. The nonprofit also said nearly 80% of lower-income households reported they could not afford housing three months after those benefits end, while more than two-thirds of fire survivors remain displaced.

Chang Liu, president and CEO of Cathay Bank, said the bank helped develop the financing infrastructure supporting the initiative.

“At Cathay Bank, we believe that community investment goes beyond traditional lending,” Liu said. “We are proud to have developed the financing infrastructure that makes this program possible, and we stand with Altadena families as they rebuild their homes and their futures.”

The program is supported by investments from The Change Reaction, Altadena Builds Back Foundation, FireAid, Advancing Lives in Pasadena and The Resnick Foundation. ALI said it is seeking additional philanthropic and mission-driven investors to expand the revolving loan fund and help more families rebuild their homes.

For more information, visit https://alirebuilds.org/