[TexasFreeper2009]

the true homeowners, the banks, will get back every penny because they require the borrower to pay for insurance that will more than cover what they lent. And the taxes are paid along with the mortgage and insurance.

Do the people the write this garbage understand anything about bank loans?

[TexasFreeper2009]

The real problem for the borrower is not the mortgage and the taxes which will be fully covered by insurance and the taxes that are included in the mortgage payment. It is that the borrower might lose some of the appreciation the home experienced after the loan was issued, and they still need to find a place to live.

[Worldtraveler once upon a time]

Not all loans have PMIs. The way many contracts are written, PMIs are required until an owner has a certain percentage of equity as calculated by the lender, and then the PMI can and most often is canceled as an ‘unnecessary” cost.

It's likely many of those affected did not have PMI coverage.

[Beowulf9]

Problem is the insurance company cancelled the insurance before the fire happened.

https://www.cbsnews.com/news/fires-california-palisades-fire-homeowners-insurance-state-farm-fair-losses/