disaster assistance for kansas tornado victims

Hi Swayze,

HUD secretary Alphonso Jackson has announced that HUD will provider faster assistance & support to those affected by the tornado.

As Kiowa County has been declared a federal disaster area, a number of assistance programs and grants will be available for temporary housing & repairs. In addition to low cost loans for covering uninsured property losses.

Niicss

To help disaster victims HUD is granting immediate foreclosure relief by way of 90 day moratorium on foreclosures & forbearance on foreclosures of FHA loans. In addition to it HUD will co-ordinate with FEMA to locate vacant public housing & HUD owned properties, so that these can be used as temporary housing for people who have been forced out of their homes because of the tornado.

I have read that HUD will also offer state & local government federally guaranteed loans which are called section 108 loan gurantee assistance for rehabilitation, and repair of infrastructures.

There will be section 203(h) program available to disaster victims which provides fha insurance. Borrowers would be eligible for 100% financing inclusive of closing costs.

Miller

Hi Swayze,

Welcome to Mortgagefit forum.

For disaster victims there is another loan, known as section 203 k loan which helps people who have lost their homes with financing to purchase/refinance alongwith any repair work on the house through a single mortgage.

This loan also helps homeowners with finance for rehabilitation work of their damaged houses.

Colin

this page will be helpful for you, http://www.hud.gov/news/release.cfm?content=pr07-059.cfm

it list all the programs started by hud to help those affected by the tornado.