California Governor Gavin Newsom has taken a stand against predatory practices targeting wildfire victims in the Los Angeles area. In response to reports of aggressive and unsolicited cash offers being made to those affected by the recent wildfires, Governor Newsom issued an executive order on Tuesday to address this concerning issue.
The executive order specifically targets offers that are below market value and are made without solicitation in 15 zip codes within the affected region. The order also calls upon the Department of Real Estate to provide necessary resources and support to prevent such exploitative practices.
In a statement, Governor Newsom emphasized the importance of protecting vulnerable families during this challenging time. He expressed his concern over reports of speculators attempting to take advantage of wildfire victims by offering significantly lower cash amounts for their properties, often while their homes were still burning.
Newsom stated, 'As families mourn, the last thing they need is greedy speculators taking advantage of their pain. We will not allow greedy developers to rip off these working-class communities at a time when they need more support than ever before.'
This executive order serves as a proactive measure to safeguard wildfire victims from falling victim to unscrupulous individuals seeking to profit from their misfortune. By restricting unsolicited and under-market value offers, Governor Newsom aims to provide a layer of protection for those who have already endured significant losses due to the devastating wildfires.
The order reflects the state government's commitment to upholding ethical standards and ensuring that wildfire victims are not further exploited during their time of need. By taking decisive action against predatory practices, Governor Newsom is sending a clear message that such behavior will not be tolerated in California's recovery efforts.
