You’re completely bagged! Let me explain this to you.

First and foremost Gavin Newsome cannot help anyone. Those neighborhoods were comprised of homeowners— most with mortgages to pay off. Start with that! Newsome can only offer $44K at best. 

What this means is, if $44K doesn’t pay off your existing mortgage, you’re  stuck with it, or get foreclosed on. Next! Even if you have solid gold credit, and want to rebuild, the loan underwriters, at the Bank, will want an insurance policy to cover their loan. Uh… Do you think any Insurance Companies will write a policy in any of these neighborhoods right now? Just sayin’. 

Finally, I suggest you watch, to see if any of the zoning in these areas goes from Single Family Residences [SFRs] to Apartment Buildings [Multi-Family Residences]. At that point you should figure out that Big Money has moved in and bought Gavin Newsome’s ass, along with Mayor Bass’ ass, and put together a gigantic Land Purchase deal.  

I hope I’m horribly wrong. But, I’m cynical !! And, I don’t think I am.