Posted on: 13th Feb, 2007 12:54 pm
has HUD granted any relief measures for the people affected by the tornado in Florida.Thanks for any information.
Hi Clerk,
HUD is working towards providing relief measures to people affected by the tornado.
In this regard it has granted foreclosure relief by granting a ninety day suspension on foreclosures & forbearance on foreclosures of FHA insured homes.
In addition to it HUD will be offering state as well as local government federally guaranteed loans for repair of public infrastructure and housing rehabilitation through Section 108 loan guarantee assistance.
Colin
HUD is working towards providing relief measures to people affected by the tornado.
In this regard it has granted foreclosure relief by granting a ninety day suspension on foreclosures & forbearance on foreclosures of FHA insured homes.
In addition to it HUD will be offering state as well as local government federally guaranteed loans for repair of public infrastructure and housing rehabilitation through Section 108 loan guarantee assistance.
Colin
Let me add that HUD secretary Alphonso Jackson has announced that he will speed up federal disaster assistance to the Florida counties which were ravaged by the tornado.
He also announced that HUD will provide support for homeowners & low income renters. The assistance would include grants for home repairs and temporary housing and to cover uninsured property losses low cost loans will also be made available.
What Jackson has said is quite assuring for people affected by the tornado -
"HUD will continue to work with Governor Crist and local officials, as well as our federal partners, to make certain that everything that can be done is being done to help residents rebuild their lives. We want to ensure that families get the help they need to recover from these tornados and get back on their feet."
He also announced that HUD will provide support for homeowners & low income renters. The assistance would include grants for home repairs and temporary housing and to cover uninsured property losses low cost loans will also be made available.
What Jackson has said is quite assuring for people affected by the tornado -
"HUD will continue to work with Governor Crist and local officials, as well as our federal partners, to make certain that everything that can be done is being done to help residents rebuild their lives. We want to ensure that families get the help they need to recover from these tornados and get back on their feet."
I have some more information about the initiative HUD is taking to help people affected by the disaster. Some of the other measures HUD is taking -
- Local governments in Florida will get the flexibility of redirecting million of dollars for addressing housing needs for the tornado victims through HUD's Community Development Block Grant (CDBG) and HOME programs.
- HUD is also discussing waiver of certain requirements for the HOME program with the State of Florida & Volusia County to help expedite repair & replacement of damaged housing.
Maxwell, I found information on 2 programs which provide help for people affected by disasters such as the one that hit Florida few days back.
HUD has Section 203(k) program which helps people who have lost their homes with finance for purchasing or refinancing a house plus repairs of the house through a single mortgage loan. This loan program also helps people who have damaged single-family houses to finance its rehabilitation.
Another program known as Section 203(h) program provides FHA insurance to people who are victims of disasters & have lost their homes. This program helps people in the daunting task of rebuilding their homes or buying a new one. A borrower if eligible can get 100% financing, including all closing costs.
HUD has Section 203(k) program which helps people who have lost their homes with finance for purchasing or refinancing a house plus repairs of the house through a single mortgage loan. This loan program also helps people who have damaged single-family houses to finance its rehabilitation.
Another program known as Section 203(h) program provides FHA insurance to people who are victims of disasters & have lost their homes. This program helps people in the daunting task of rebuilding their homes or buying a new one. A borrower if eligible can get 100% financing, including all closing costs.