Latest news with #Section203
Yahoo
05-05-2025
- Business
- Yahoo
Federal HUD disaster assistance approved for Feb. flood victims in SWVA
VIRGINIA (WJHL) — The U.S. Department of Housing and Urban Development (HUD) announced Monday that supplemental disaster assistance funding is now available to Southwest Virginians who were impacted by flooding in February. The flooding event took place across several Southwest Virginia counties from Feb. 10 to 18. States of emergency were declared by local governments, many roadways were overtaken by water and dozens of both human and animal rescues were conducted. Monday's announcement of released federal funding came one month after President Donald Trump issued a Major Disaster Declaration for Virginia on April 4. SEE ALSO: Steven Cloyd's brother speaks on family's 'closure' News Channel 11 previously spoke with Virginia Gov. Glenn Youngkin days after Trump approved the disaster declaration, and he said the funding will help flood-impacted Southwest Virginians. The severe weather caused major flooding in Buchanan County–something residents have become too familiar with. Buchanan County schools were closed for more than a week following February's flooding so families could regroup. 'I am grateful to President Trump and the entire Administration for approving federal disaster assistance for the Commonwealth of Virginia. These resources aid recovery efforts in the areas of Southwest Virginia affected by Hurricane Helene last fall along with the severe flooding brought on by February's winter storms,' Gov. Youngkin said in a HUD release. 'Thank you to Secretary Turner and his team for their strong partnership supporting Virginians adversely impacted by these storms.' According to the release, HUD is providing the following supplemental resources to Southwest Virginia February flood victims: Providing financial flexibility– A 90-day moratorium is issued on foreclosures of mortgages insured by the Federal Housing Administration (FHA). There is also a 90-day extension granted automatically for Home Equity Conversion Mortgages. The moratorium and extension are effective as of the President's disaster declaration date. Homeowners affected by the disaster should contact their mortgage or loan servicer immediately for assistance. Conventional mortgage holders may also be eligible for additional relief through their mortgage holder. Call the FHA Resource Center at 1-800-304-9320 for additional information. To learn more about disaster relief options for FHA homeowners, visit the FHA Disaster Relief site. Making mortgage insurance available - When homes are destroyed or damaged to an extent that requires reconstruction or complete replacement, HUD's Section 203(h) program provides FHA insurance to disaster victims. Borrowers from participating FHA-approved lenders are eligible for 100 percent financing, including closing costs. Making financing available for both mortgage and home rehabilitation - HUD's Section 203(k) loan program enables individuals to finance the purchase or refinance of a house, along with its repair, through a single mortgage. Homeowners can also finance the rehabilitation of their existing homes if damaged. Sharing information on housing providers and HUD programs - Information will be shared with FEMA and the State on housing providers that may have available units in the impacted counties, including Public Housing Agencies and Multi-Family owners. The Department will also connect FEMA and the State to subject matter experts to provide information on HUD programs and providers. Providing flexibility to Community Planning and Development Grantees - Recipients of Community Development Block Grant (CDBG) Program, Housing Opportunities for Persons With AIDS/HIV (HOPWA) Program, Continuum of Care (CoC) Program, Emergency Solutions Grants (ESG) Program, HOME Investment Partnerships Program, and Housing Trust Fund (HTF) Program funds can apply for needed administrative flexibility in response to Presidentially Declared Major Disaster for Virginia (DR-4863-VA). For more information on applying for a waiver or suspension of program requirements, contact the Richmond, VA Community Planning and Development (CPD) Field Office here. Providing flexibility to Public Housing Agencies - Public Housing Agencies can apply for needed waivers and flexibilities for disaster relief and recovery. For detailed information on applying for a waiver, click here for the latest Federal Register Disaster Relief Notice guidance. The Department also released PIH Notice 2021-34, which advises the public of HUD's expedited process for waivers and flexibilities from HUD regulatory and administrative requirements for various Public Housing and Voucher Programs. As a reminder, to be eligible to receive a disaster waiver, the PHA must be located in an active Presidentially declared Major Disaster Declaration area and submitted within four months of an MDD. Ensuring HUD-approved housing counseling agencies are ready to assist - HUD-approved housing counseling agencies have counselors available to assist those impacted by natural disasters to determine assistance needs and available resources. Find a HUD-approved housing counseling agency online or use our telephone look-up tool by calling 1-800-569-4287. Telephone look-up includes access to information in more than 200 different languages. You do not have to have an FHA-insured mortgage to meet with a HUD-approved housing counseling agency. There is never a fee for foreclosure prevention counseling. Assisting with housing discrimination - Housing discrimination can occur when people attempt to find and access housing following a disaster. HUD's Office of Fair Housing and Equal Opportunity is available to assist people who believe they have experienced housing discrimination. If you think your rights have been violated, you should file a fair housing complaint with HUD. You can file a complaint by calling HUD at 1-800-669-9777 or visiting How to File a Complaint on HUD's website. Individuals who are deaf or hard of hearing may contact the Department using the Federal Relay Service at 1-800-877-8339. HUD may not help you if your complaint is filed more than one year after the last discriminatory act. You may also be able to file a complaint with a state or local fair housing agency. A list of the State and local fair housing agencies funded by HUD is available on HUD's website here. 'Parts of Southwest Virginia faced intense flooding during a wave of February winter storms,' said U.S. Representative Morgan Griffith (VA-09). 'The resulting damage to businesses and homes impacted many people in Southwest Virginia who were in the middle of recovering from Hurricane Helene. Secretary Turner's announcement to extend natural disaster aid and financial flexibility resources to Southwest Virginia will help our communities access vital recovery services.' More information about the funding announcement can be found on Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
06-03-2025
- Business
- Yahoo
HUD extends foreclosure moratorium for L.A. County wildfire victims
The U.S. Department of Housing and Urban Development on Thursday announced a 90-day extension for its foreclosure moratorium for many single-family-home mortgages impacted by the Los Angeles County wildfires. Originally scheduled to expire on April 8 2025, the moratorium prohibits mortgage servicers from initiating or completing foreclosure actions on FHA-insured single-family forward or Home Equity Conversion mortgages in the Los Angeles County Presidential Major Disaster Declaration (PDMDA) area. The moratorium will now expire on July 7, 2025. Newsom extends housing access, rebuilding efforts for wildfire victims HUD also shared these tips for wildfire victims. Borrowers unable to make their mortgage payments should contact their mortgage servicer for assistance as soon as practical. Borrowers may also contact the FHA Resource Center at (800) CALL-FHA (1-800-877-8339 or TTY 1-800-877-8339) for assistance. Borrowers and renters who need immediate housing and disaster recovery assistance; HUD-certified housing counselors are prepared to provide guidance on the available options. To find a HUD-approved housing counseling agency, borrowers can use HUD's online search tool or use our phone search by calling (800) 569-4287 or (202) 708-1455 (TTY). For borrowers whose homes are destroyed or damaged to an extent that requires reconstruction or complete replacement, contact an FHA-approved lender about FHA's Section 203(h) loan program. This program provides 100 percent financing for eligible homeowners to rebuild or purchase new homes. For borrowers seeking to purchase and/or repair a home that has been damaged, contact an FHA-approved lender about FHA's Section 203(k) loan program. This program allows individuals to finance the purchase or refinance of a house and the costs of repair or renovation through a single mortgage. HUD Secretary Scott Turner made the announcement while touring a disaster zone in Altadena with Los Angeles Supervisor Kathryn Barger, whose district includes the Altadena area. 'HUD's extension of the foreclosure moratorium is a lifeline for wildfire survivors in Los Angeles County who are facing immense hardship,' Barger said in a statement. 'I appreciate Secretary Turner's leadership and commitment to ensuring that families impacted by these devastating fires have the time and support they need to recover. This critical relief will help stabilize our communities as we work together to rebuild and heal.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
