Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
HUD expands hurricane housing relief
WASHINGTON (11/8/12)--In the wake of Superstorm Sandy, the U.S. Department of Housing and Urban Development (HUD) is speeding federal disaster assistance to Rhode Island and providing support to homeowners and low-income renters that have been forced from their homes due to the storm.

President Barack Obama on Saturday added Rhode Island's Bristol, Newport and Washington counties to the official list of federal disaster areas. The declaration allows HUD to offer foreclosure relief and other assistance to certain families living in these counties, the agency said.

"Families who may have been forced from their homes need to know that help is available to begin the rebuilding process," HUD Secretary Shaun Donovan said. "Whether it's foreclosure relief for families with FHA-insured loans or helping these counties to recover, HUD stands ready to help in any way we can," he added.

HUD said it is:

  • give the State and communities the flexibility to redirect millions of dollars to address critical needs, including housing and services for disaster victims. HUD is currently
  • contacting State and local officials to explore streamlining the Department's Community Development Block Grant (CDBG) and HOME programs to speed the repair and replacement of damaged housing;
  • Granting a 90-day moratorium on foreclosures and forbearance on foreclosures of Federal Housing Administration (FHA)-insured home mortgages;
  • Providing FHA insurance to many that have lost their homes;
  • Allowing individuals that have destroyed or damaged homes to finance the purchase, refinance or repair of a house through a single mortgage; and
  • Offering federally guaranteed loans to state and local governments for housing rehabilitation, economic development and repair of public infrastructure.
HUD is also sharing information with state and local authorities and the Federal Emergency Management Administration.

For the full HUD release, use the resource link.
Other Resources

RSS print
News Now LiveWire
September is National Preparedness Month. Read how your CU can get ready in #NewsNow #NPM @AgilityRecovery @Readygov
8 29 ago
Bay Area #creditunions featured in @SFBusinessTimes article http://t.co/SE7W81Ulia
8 29 ago
#NewsNow: 8 CU advisory board, new senior leaders named at @CFPB. http://t.co/EPKgHEDRRN
8 29 ago
#NewsNow: @FTC warns of government impostor scams. http://t.co/MMWBOcrqwJ
8 29 ago
Registration open for @CUNAMutualGroup's Discovery Conference #NewNow http://t.co/CATF0j9ct1
8 29 ago