The U.S. Department of Housing and Urban Development (HUD) recently implemented federal disaster relief for the state of Florida in response to the impact of Hurricane Idalia. President Joe Biden issued a major disaster declaration, leading to several measures including a 90-day moratorium on FHA-insured mortgage foreclosures and an extension for Home Equity Conversion Mortgages, with homeowners urged to contact their mortgage or loan servicers, according to a Sept. 6 news release.
"My thoughts are with those who lost or experienced damage to their homes," HUD Secretary Marcia Fudge said in the release. "HUD’s role in a disaster is to ensure that people and communities can recover and return home. HUD is committed to seeing Florida’s recovery through."
Additionally, HUD is making mortgage insurance available for disaster victims under its Section 203(h) program, providing financing options for those whose homes require reconstruction or replacement and offering resources for housing discrimination assistance, the release reported.
Borrowers from approved FHA lenders can receive 100% financing, including closing costs. The Section 203(k) loan program also offers insurance for mortgage and home rehabilitation, allowing homeowners to finance house purchases, repairs or rehabilitation through a single mortgage, according to the release.
HUD is facilitating information sharing on housing providers and its programs with the Federal Emergency Management Agency and the state, including public housing agencies and multi-family owners. Moreover, HUD offers administrative flexibility for various grant recipients, including Community Development Block Grant Program, Housing Opportunities for Persons With HIV/AIDS Program, Continuum of Care Program, Emergency Solutions Grants Program, HOME Program and Housing Trust Fund Program funds, the release said.
Public Housing Agencies are eligible to apply for waivers and flexibilities for disaster relief and recovery, with HUD offering an expedited process for these requests. Tribes and their housing entities can also apply for regulatory waivers. HUD-approved housing counseling agencies are prepared to assist those affected by natural disasters, and assistance is available for individuals who believe they have experienced housing discrimination following a disaster. Complaints can be filed with HUD's Office of Fair Housing and Equal Opportunity, the release reported.
