Articles Tagged With: FEMA

September 22, 2017

HUD Announces Disaster Relief For Puerto Rico

The Department of Housing and Urban Development has announced federal disaster relief for natural disaster victims in Puerto Rico. According to a press release on the FHA/HUD official site, the following municipalities have been declared major disaster areas: Aguas Buenas, Aibonito, Arecibo, Arroyo, Barceloneta, Barranquitas, Bayamón, Caguas, Canóvanas, Carolina, Cataño, Cayey, Ceiba, Ciales, Cidra, Coamo, Comerio, Corozal, Culebra, Dorado, Fajardo, Florida, Guayama, Guaynabo, Gurabo, Humacao, Jayuya, Juana Díaz, Juncos, Las Piedras, Loíza, Luquillo, Manati, Maunabo, Morovis, Naguabo, Naranjito, Orocovis, Patillas, Ponce, Rio Grande, Salinas, San Juan, San Lorenzo, Santa Isabel, Toa Baja, Toa Alta, Trujillo Alto, Utuado, Vega Alta, Vega Baja, Vieques, Villalba and Yabucoa. Those in a federally declared disaster area have options for relief from agencies including FEMA, the FHA, and HUD. According to the press release, “HUD’s | more...

Credit Scores For An FHA Home Loan: When Low Credit Is Not Bad Credit

September 6, 2017

HUD Announces Disaster Relief Priorities For Survivors of Hurricane Harvey

By Bruce Reichstein

HUD has announced disaster relief priorities for survivors of Hurricane Harvey, and those priorities include long-term housing needs for those displaced by the disaster. According to a press release published on the HUD official site, the Department of Housing and Urban Development is the “lead federal coordinating agency for long-term disaster-related housing needs resulting from Hurricane Harvey. Federal partners are working closely with the Texas state-led housing task force, as well as other state, local, tribal and voluntary agencies, to meet the need for quality affordable rental homes.” Post-Harvey disaster recovery efforts are, as you can see from the quote above, far-reaching. Those who have been displaced may be eligible for FEMA assistance, and HUD urges all in hurricane affected areas to contact FEMA to determine what they may be | more...

August 28, 2017

White House Announces Federal Disaster Assistance For Texas

By Bruce Reichstein

On Friday, August 26, 2017, the White House announced federal aid for Texas to help affected counties in the state recover from Hurricane Harvey. According to Whitehouse.gov, the President “declared that a major disaster exists in the State of Texas and ordered Federal aid to supplement State and local recovery efforts in the areas affected by Hurricane Harvey beginning on August 23, 2017, and continuing.” A complete list of affected counties named as federal disaster areas is not available at the time of this writing, and conditions may be such that more counties are listed in the coming days or weeks. But for all affected areas, the FHA and HUD have disaster relief measures that can help home owners trying to recover from the effects of the hurricane including high | more...

August 25, 2017

What If My Home Was Damaged In A Natural Disaster?

By Joe Wallace

What if my home was damaged in a natural disaster? This is an important question. The answers, depending on circumstances, may affect FHA borrowers and non-FHA borrowers alike. The FHA and HUD official site discusses a variety of remedies for those who have experienced a natural disaster. Some of the most important advice? Contact your lender, your insurance agent, and FEMA as soon as possible after the disaster to make arrangements regarding FHA loan forbearance, foreclosure avoidance, and federal assistance. For borrowers with conventional mortgages, different options and requirements may apply. It is not safe to assume that any of the above is automatic-in most cases help must be applied for, especially where FEMA is concerned. Borrowers should also not allow themselves to be pressured into quick insurance settlements. You | more...

August 22, 2017

HUD Announces Disaster Relief For West Virginia

By Joe Wallace

The Department of Housing and Urban Development (HUD) has announced disaster relief for storm victims in West Virginia, thanks to a federal disaster area declaration for Harrison, Marion, Marshall, and Wetzel counties. According to a press release on the FHA/HUD official site, the agency will “speed federal disaster assistance to the State of West Virginia and provide support to homeowners and low-income renters forced from their homes due to severe storms, flooding, landslides, and mudslides” in zones now declared federal disaster areas. The FHA/HUD disaster relief measures include a 90-day moratorium requested by HUD on all FHA loans in the affected areas, and also the availability of FHA 203(h) rehab loans intended for “disaster victims who have lost their homes and are facing the daunting task of rebuilding or buying | more...

October 12, 2016

HUD Announces Relief Measures Following Hurricane Matthew

By Joe Wallace

The Department of Housing and Urban Development has announced relief measures following Hurricane Matthew. According to the HUD official site, “U.S. Housing and Urban Development Secretary Julian Castro today announced HUD will speed federal disaster assistance to the States of North Carolina, Florida, and Georgia and provide support to homeowners and low-income renters forced from their homes due to Hurricane Matthew.” The HUD press release announcing this relief also ran a list of areas President Obama issued a disaster declaration for-the following counties have been declared federal disaster areas: North Carolina: Beaufort, Bladen, Columbus, Cumberland, Edgecombe, Hoke, Lenoir, Nash, Pitt, and Robeson. Florida: Brevard, Duval, Flagler, Indian River, Nassau, St. Johns, St. Lucie and Volusia. Georgia: Bryan, Camden, Chatham, Glynn, Liberty, and McIntosh. According to the press release, HUDNo.16-155, “The | more...

May 23, 2013

FHA Announces Assistance For Homeowners in Oklahoma

By Joe Wallace

The FHA and HUD have announced disaster relief for victims of the recent tornado in Oklahoma. According to HUDNo.13-078, “HUD will speed federal disaster assistance to the State of Oklahoma in addition to resources being provided by Federal Emergency Management Agency (FEMA) and other federal partners. HUD will provide support to homeowners and low-income renters forced from their homes due to tornadoes and severe storms.” U.S. Housing and Urban Development Secretary Shaun Donovan has also reiterated current Federal Housing Administration policy, “that mortgage lenders should release insurance payments to homeowners rather than applying these funds toward outstanding mortgage debt” according to the press release. On Tuesday May 21, 2013, the President made a federal disaster declaration for Oklahoma counties including Cleveland, Lincoln, McClain, Oklahoma and Pottawatomi. A federal declaration allows | more...

October 31, 2012

FHA Assistance to Hurricane Sandy Victims in New York and New Jersey

By Joe Wallace

The FHA and HUD have issued a press release announcing FHA loan assistance to victims of Hurricane Sandy in New York and New Jersey. According to press releases HUDNo.12-166 and

August 20, 2012

FHA Announces Disaster Relief for Montana, Maryland, Wisconsin

By Joe Wallace

The FHA and HUD have issued press releases announcing disaster relief for victims of fires and storms across three states. FHA relief programs are now available for residents of federal disaster areas in Montana affected by wildfires there, plus storm victims in Maryland and Wisconsin. FHA relief is available to homeowners in federally declared disaster areas once such declarations are officially made. U.S. Housing and Urban Development Secretary Shaun Donovan said in recent press releases, “Families who may have been forced from their homes need to know that help is available to begin the rebuilding process,” said Donovan. “Whether it’s foreclosure relief for FHA-insured families or helping these counties to recover, HUD stands ready to help in any way we can.” FHA help for those in the affected areas includes | more...

July 23, 2012

FHA/HUD Assistance For New Jersey Storm Victims

By Joe Wallace

A recent HUD press release, HUDNo.12-117, announced disaster assistance for New Jersey storm victims, including those with FHA guaranteed mortgages. On Thursday, July 19th, President Obama announced a disaster declaration for Atlantic, Cumberland and Salem Counties. According to the press release, “The President