Forum to Discuss Proposed Disaster Insurance and Mortgage Reforms

A forum on Sunday, Nov. 1, will examine proposed insurance and mortgage protections for wildfire survivors and renters at Gaucho Grill on South Lake Avenue.

The Homeowner, Insurance, Mortgage Reform Forum & Luncheon is scheduled for 3 to 5 p.m. at 455 S. Lake Ave. Yolanda Williams of Time2Dream will host and James Farr of KBLA Talk 1580 will moderate.

Paula Boyd, who distributed the event announcement, said the discussion is intended to bring together homeowners, tenants, legal experts, policymakers and community leaders.

Topics will include rebuilding costs, mortgage and foreclosure practices, insurance proceeds and financial protections during disaster recovery.

At the center of the discussion is a three-page document titled the “Homeowner Protection & Insurance Reform Act of 2026.” Although labeled an act, it outlines proposed changes, not laws in force.

The plan calls for property insurance that covers the full cost of rebuilding unless a homeowner opts out in writing. It proposes a 36-month foreclosure moratorium after a total loss, mortgage-payment coverage for the same period and restrictions on charging mortgage interest when a home has been destroyed or rendered uninhabitable.

Under its proposed escrow changes, homeowners would receive market-rate interest on insurance proceeds held in escrow and could choose the institution holding the funds. The plan also calls for returning insurance money above the loan balance to the homeowner, adding basic renter coverage for temporary housing and belongings, and creating a state office to oversee compliance.

Other provisions address insurers’ claims against utility companies and propose annual reporting on underinsurance, foreclosure activity, escrow practices and tenant protections. These are proposals in the organizers’ materials, not requirements that have been established as law.

The discussion is relevant to households recovering from the January 2025 Eaton Fire, as well as Pasadena homeowners and tenants confronting insurance or mortgage questions after catastrophic property losses. The proposed reforms address circumstances in which insurance settlements, outstanding mortgage balances and rebuilding expenses may involve competing financial obligations.

The gathering is presented as a community policy discussion rather than a legislative hearing. The organizers’ materials do not establish that the proposed protections have been introduced in the California Legislature or formally submitted as a statewide ballot initiative.

NEED TO KNOW — Event: Homeowner, Insurance, Mortgage Reform Forum & Luncheon. When: Sunday, Nov. 1. Time: 3 to 5 p.m. Where: Gaucho Grill, 455 S. Lake Ave., Pasadena.