The U.S. Department of Housing and Urban Development recently announced its plans to help the residents along with the state and local governments in Virginia who were affected by Hurricane Sandy. Along with FEMA and other organizations, HUD will provide assistance and resources for homeowners and low-income renters who are struggling as a result of the storm and may lose their home. President Obama issued a disaster declaration for 28 Virginia counties. These will be the counties that will receive the aid from HUD. HUD Secretary, Shaun Donovan announced that the Department will help provide foreclosure relief for families with FHA loans and assist in any other way they could.
HUD will allow those counties in critical condition the ability to re-allocate millions of dollars in funds toward disaster relief. HUD also granted all foreclosures and forbearance on foreclosures a 90-day forgiveness period for FHA insured homes. HUD has also made insurance available through FHA for mortgages and home rehabilitations. In addition, the Department will offer loans to state and local government for the economic development of damaged communities.
To read more on this story visit: http://www.loansafe.org/virginia-storm-victims-receiving-foreclosure-protection-from-hud
Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Foreclosure defense attorney, Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.
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