WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) announced Tuesday that federal disaster assistance is available for the Arkansas communities affected by the severe storms and tornadoes that tore through the area Dec. 10 and 11.
The federal assistance is available to the storm victims in Craighead, Jackson, Mississippi, Poinsett and Woodruff Counties, HUD officials said.
According to HUD, the assistance will provide immediate foreclosure relief for the counties declared a major disaster. This will stop all foreclosure actions against individuals behind on their loans within the declared disaster boundaries.
Mortgage insurance and home rehabilitation insurance is also available, enabling those who have lost their homes and are facing the daunting task of rebuilding or buying another home to finance the purchase or refinance of a house, HUD reported.
According to officials, borrowers from participating FHA-approved lenders are eligible for 100 percent financing, including closing costs.
The department also announced it will share information on housing providers that have available units with FEMA and the state. Public housing agencies can also apply for administrative flexibility through disaster waivers offered by HUD.
Find the full list of disaster programs at HUD.gov.