HUD No. 07-013
February 8, 2007
HUD SPEEDS DISASTER ASSISTANCE FOR TORNADO VICTIMS IN FOUR FLORIDA COUNTIES
Temporary housing and foreclosure protection offered to displaced families
ORLANDO, FL - U.S. Housing and Urban Development Secretary Alphonso Jackson today announced he would speed federal disaster assistance to four Florida counties ravaged by tornados and provide support to homeowners and low-income renters.
On February 3rd, President Bush declared Lake, Seminole, Sumter, and Volusia Counties as federal disaster areas. Assistance can include grants for temporary housing and home repairs, low-cost loans to cover uninsured property losses, and other programs to help individuals and business owners recover from the effects of the disaster.
"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," said Jackson. "We want to ensure that families get the help they need to recover from these tornados and get back on their feet."
- Working with local governments to re-allocate existing federal resources toward disaster relief - HUD's Community Development Block Grant (CDBG) and HOME programs give local governments in Florida the flexibility to redirect millions of dollars to address critical needs, including housing and services for tornado victims. HUD is currently in discussions with the State of Florida and Volusia County to waive certain requirements under the HOME program to expedite the repair and replacement of damaged housing.
Granting immediate foreclosure relief - HUD granted a 90-day moratorium on foreclosures and forbearance on foreclosures of Federal Housing Administration-insured homes;
- Providing temporary housing and shelter - HUD will work with FEMA to identify vacant public housing and HUD-owned properties that can be used as temporary housing for those forced from their homes;
- 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;
Making available mortgage insurance - HUD's Section 203(h) program provides FHA insurance to disaster victims who have lost their homes and are facing the daunting task of rebuilding or buying another home. Borrowers are eligible for 100 percent financing, including closing costs;
- Making available insurance for both mortgages and rehabilitation - HUD's Section 203(k) loan program enables those who have lost their homes to finance the purchase or refinancing 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.
HUD is the nation's housing agency committed to increasing homeownership, particularly among minorities; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development and enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet and espanol.hud.gov.