HUDNo.11-078 HUD SECRETARY ANNOUNCES DISASTER ASSISTANCE FOR KENTUCKY STATE STORM VICTIMS


HUDNo.11-078.

HUD SECRETARY ANNOUNCES DISASTER ASSISTANCE FOR KENTUCKY STATE STORM VICTIMS
Foreclosure protection offered to displaced families in 23 counties

WASHINGTON – U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to the State of Kentucky and provide support to homeowners and low-income renters forced from their homes following severe storms, tornadoes, and flooding last week.

Yesterday, President Obama issued a disaster declaration for Ballard, Boone, Bracken, Campbell, Carlisle, Carroll, Carter, Crittenden, Daviess, Fleming, Fulton, Gallatin, Henderson, Hickman, Kenton, Lawrence, Livingston, McCracken, Morgan, Nicholas, Oldham, Owen, Union and Washington counties in Kentucky. The President’s declaration allows HUD to offer foreclosure relief and other assistance to certain families living in these counties.

“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.”

HUD is:

    • Making mortgage insurance available – 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 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
  • Information on housing providers and HUD programs – The Department will share information with FEMA and the State on housing providers that may have available units in the impacted counties. This includes 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.

    Read about these and other HUD programs designed to assist disaster victims

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