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Community development and housing news for April 18, 2019

Breaking news

HUD announces disaster aid for storm victims in Nebraska and Iowa

Late Friday HUD posted two press releases announcing that it will speed federal disaster assistance to the states of Iowa and Nebraska and provide support to homeowners and low-income renters forced from their homes due to severe winter storms and flooding. Presidential disaster declarations allow HUD to offer foreclosure relief and other assistance to certain families living in impacted counties.

According to the press release, the disaster assistance will:

• Grant a 90-day moratorium on foreclosures of FHA-insured homes
• Make mortgage insurance available under HUD’s Section 203(h) program
• Make insurance available for both mortgages and home rehabilitation under HUD’s Section 203(k) program

Click here for more information about disaster resources.

Even when you're an experienced multifamily owner/manager, the prospect of an MOR can be daunting. For newbies to PBRA, it's even more so! Getting audited is never fun but being prepared before it happens will help you and your staff feel more comfortable and increase your odds of a successful outcome.