RISMedia
(5/1/2014 1:59 AM, RISMedia)

U.S. Housing and Urban Development Secretary Shaun Donovan recently announced HUD will speed federal disaster assistance to the State of Arkansas and provide support to homeowners and low-income renters forced from their homes due to severe storms, tornadoes and flooding.

President Obama has issued a disaster declaration for Faulkner County.

The President’s declaration allows HUD to offer foreclosure relief and other assistance to certain families living in this county.

"Families who may have been forced from their homes need to know that help is available to begin the rebuilding process," says Donovan.

"Whether it’s foreclosure relief for FHA-insured families or helping these counties to recover, HUD stands ready to help in any way we can."

HUD is currently offering the State of Arkansas the ability to re-allocate existing federal resources toward disaster relief - HUD’s Community Development Block Grant and HOME programs 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 CDBG and HOME programs in order to expedite the repair and replacement of damaged housing;.

Granting immediate foreclosure relief - HUD granted a 90-day moratorium on foreclosures and forbearance on foreclosures of Federal Housing Administration-insured home mortgages;.

HUD is working to make mortgage insurance available.