(Photo from the City of Oxford on Facebook)
- “We are supporting residents of Mississippi by providing financial flexibility and disaster recovery resources to those impacted by the recent disaster,” said Housing and Urban Development Secretary Scott Turner.
U.S. Housing and Urban Development (HUD) Secretary Scott Turner announced Thursday that federal disaster assistance is available to Mississippi to supplement recovery efforts in the areas affected by the winter storm in January 23-27.
This follows President Donald Trump’s issuance of a major disaster declaration for the state on February 6.
Secretary Turner said in a statement that one of HUD’s core responsibilities is to help rebuild homes, businesses, and communities after natural disasters.”
“We are supporting residents of Mississippi by providing financial flexibility and disaster recovery resources to those impacted by the recent disaster,” Turner said.
The aid HUD announced to Mississippi residents impacted by the winter storm includes:
- A 90-day moratorium is issued on foreclosures of mortgages insured by the Federal Housing Administration (FHA and Native American borrowers insured by the HUD Office of Native American Program’s Section 184 Indian Home Loan Guarantee program.
- There is also a 90-day extension granted automatically for Home Equity Conversion Mortgages.
- When homes are destroyed or damaged to an extent that they require reconstruction or complete replacement, HUD’s Section 203(h) program provides FHA insurance to homeowners and tenants. Borrowers from participating FHA-approved lenders are eligible for 100 percent financing, including closing costs.
- HUD’s Section 203(k) loan program enables individuals to finance the purchase or refinance of a house, along with its repair, through a single mortgage. Homeowners can also finance the rehabilitation of their existing home if damaged.
- Information will be shared with FEMA and the state on housing providers that may have available units in the impacted counties, including Public Housing Agencies and multi-family owners. The Department will also connect FEMA and the state with subject matter experts to provide information on HUD programs and providers.
- HUD-approved housing counseling agencies have counselors available to assist those impacted by natural disasters and determine assistance needs and available resources. Find a HUD-approved housing counseling agency online, or use our telephone look-up tool by calling 1-800-569-4287. You do not need to have an FHA-insured mortgage to meet with a HUD-approved housing counseling agency. There is never a fee for foreclosure prevention counseling.
To learn more or to find the other assistance HUD is providing to Mississippi, visit here.
