HUD announces plans for Arkansas tornado disaster assistance

LITTLE ROCK, Ark. - The U.S. Department of Housing and Urban Development has outlined its plans for Arkansas residents affected by the March 31 storms.

On April 2, the federal government made a major disaster declaration for Cross, Lonoke and Pulaski counties. The three counties were significantly impacted by the March 31 tornadoes, with many homes rendered uninhabitable.

HUD officials said that effective immediately, a 90-day moratorium on foreclosures of properties mortgaged through the Federal Housing Administration is in place for thoses in affected counties. In addition, a 90-day extension is automatically in place for Home Equity Conversation Mortgages.

HUD said conventional mortgage holders could have additional relief available and should contact their mortgage holder for information.

FHA has other programs in place for affected homeowners:

Mortgage insurance: HUD provides FHA insurance to disaster victims for damaged or destroyed homes. FHA borrowers from approved lenders are eligible for 100% financing, including closing costs.
Insurance for home rehabilitation: Homeowners may apply through HUD to finance or refinance a home and its repairs.
Housing info: HUD is working with FEMA and the state to list available housing in the three counties.

Officials said community planning and development grantees, public housing agencies and tribal organizations may be eligible for fund waivers and flexibility during disaster recovery.

HUD also assists those who feel they are affected by housing discrimination while searching for a place to stay after their home was damaged. Complaints may be filed online or by calling 800-669-9777.

Additional information is found by calling the FHA Resource Center at 1-800-304-9320.

from KARK https://ift.tt/Ljhn9bE