HUD Announces Disaster Assistance for Victims of Hurricane Laura

The U.S. Department of Housing and Urban Development (HUD) announced federal disaster assistance for the state of Louisiana to provide support to homeowners and low-income renters displaced from their homes in areas affected by Hurricane Laura.

On August 28, President Trump issued a major disaster declaration for the following parishes in Louisiana: Allen, Beauregard, Calcasieu, Cameron and Jefferson Davis.

The President’s declaration allows HUD to offer foreclosure relief and other assistance to impacted families living in these counties. HUD is:

Providing immediate foreclosure relief. HUD’s automatic 90-day moratorium on foreclosures of Federal Housing Administration (FHA)-insured home mortgages commenced for the Louisiana counties covered under the Presidential declaration on the date of the declaration. For assistance, call your loan servicer or FHA’s Resource Center at 1-800-CALL FHA (1-800-225-5342).

Making mortgage insurance available. HUD’s Section 203(h) program provides FHA insurance to disaster victims whose homes were destroyed or damaged to such an extent that reconstruction or replacement is necessary and are facing the daunting task of rebuilding or buying another home. Section 203(h) borrowers are eligible for 100 percent financing, including closing costs.

Making insurance available for both mortgages and home rehabilitation. HUD’s Section 203(k) loan program enables those who have lost their homes to finance the purchase or refinance of a house along with its repair through a single mortgage. It also allows homeowners who have damaged houses to finance the rehabilitation of their existing single-family home. For a list of lenders in your area, call FHA’s Resource Center at 1-800-CALL FHA (1-800-225-5342).

Making information on housing providers and HUD programs available. The Department will share information with the Federal Emergency Management Agency (FEMA) and the state on housing providers that may have available units in the impacted counties. This includes public housing agencies and multifamily owners. The department will also connect FEMA and the State to subject matter experts to provide information on HUD programs and providers.
 
Source: HUD

This entry was posted in House Bloggers. Bookmark the permalink.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.