HUD Secretary Shaun Donovan announced HUD will speed federal disaster assistance to the State of Maryland and provide support to homeowners and low-income renters who have been displaced or whose residences are uninhabitable as a result of Tropical Storm Lee. As a part of this assistance, HUD will allow State of Maryland communities to reallocate federal resources such as the Community Development Block Grant (CDBG) and HOME programs in order to address critical needs. In addition, HUD has granted a 90-day moratorium to foreclosures on Federal Housing Administration (FHA)-insured home mortgages, has granted FHA insurance to disaster victims who have lost their homes and need to rebuild or rehabilitate their home, and will offer state and local governments federally guaranteed loans for housing rehabilitation, economic development and repair of public infrastructure.
To read HUD press release No. 11-245, click here.
