HUD Announces Disaster Assistance for California Fire Victims
The
Yesterday,
The President's declaration allows HUD to offer foreclosure relief and other assistance to certain families living in these counties. HUD is:
* Providing immediate foreclosure relief - HUD's automatic 90-day moratorium on foreclosures of
* 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. Borrowers from participating FHA-approved lenders 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; and
* Making information on housing providers and HUD programs available - The Department will share information with the
Read about these and other HUD programs designed to assist disaster victims (https://www.hud.gov/press/press_releases_media_advisories/HUD_No_18_135).
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