Home Forums Need Help? HUD Disaster Assistance

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    HFGWM Press

    https://www.disasterassistance.gov

    HUD Disaster Assistance:

    Assisting the state and local governments in re-allocating existing federal resources toward disaster relief – HUD’s Community Development Block Grant and HOME programs give the state and communities the flexibility to redirect millions of dollars in annual funding for critical needs, including housing and services for disaster victims. HUD is currently contacting state and local officials to explore streamlining the department’s CDBG and HOME programs in order to expedite the repair and replacement of damaged housing.

    Granting immediate foreclosure relief – HUD is granting a 90-day moratorium on foreclosures and forbearance on foreclosures of Federal Housing Administration-insured home mortgages.

    Making mortgage insurance available – One HUD program provides FHA insurance to disaster victims who have lost their homes and are forced to rebuild or buy another home. Borrowers from participating FHA-approved lenders may be eligible for 100% financing.

    Making insurance available for both mortgages and home rehabilitation – Another HUD loan program enables the purchase or refinance of a house along with its repair through a single mortgage. It also allows homeowners who have damaged homes to finance the rehabilitation of their existing single-family home.

    Offering Section 108 loan guarantee assistance – HUD will offer state and local governments federally guaranteed loans for housing rehabilitation, economic development and repair of public infrastructure.

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