Roots of Mankind

KATRINA HOUSING

HUD to Sell Homes at a Discount to Disaster Victims

In the aftermath of the hurricanes, HUD provided interim rental housing to many families in the form of HUD-owned properties in the states of South Carolina, Georgia, Florida, Kentucky, Tennessee, Arkansas, Oklahoma and Texas. These families will be offered the opportunity to purchase the homes they are currently occupying at a discount of ten percent off the property€冱 fair market value. Additionally, HUD will help current tenants pay for property repairs by funding a repair escrow equal to 15% of the contract price.

HUD is also establishing a nationwide sales initiative providing discounts and preferences for Gulf area hurricane evacuees seeking housing anywhere in any of the 50 states. Effective the week of May 1, almost all new properties listed for sale by HUD will be offered exclusively to hurricane evacuees for a period of five days at a price that is ten percent below fair market value. FEMA qualified evacuees may submit offers through a licensed real estate broker. For additional information and full participation requirements, interested parties can call 1-800-CALLFHA or FAQs relative to the Hurricane Evacuee Sales Program can be found on the web site at http://www.hud.gov/offices/hsg/sfh/faqs/katsales.cfm.

Deed-in Lieu Assistance

FHA MORTGAGEE LETTER 2006-10, dated May 3, 2006, allows special authority for the use of deed-in-lieu to assist victims Hurricanes Katrina, Rita, and Wilma in Presidentially-Declared major disaster areas in Alabama, Florida, Louisiana, Mississippi and Texas. This Mortgagee Letter provides special expanded authority to make it easier for mortgagees to accept voluntary conveyances of property from borrowers in those cases where, due to storm damage, the home is not habitable and will not be restored.

To read this mortgagee letter in its entirety, please visit: http://www.hud.gov/offices/hsg/mltrmenu.cfm select 2006 letters and click on letter number 10.

USDA Foreclosure Moratorium Extensions for Borrowers

The USDA has extended its foreclosure moratorium in the Hurricane affected areas up to June 30, 2006 provided specific requirements are met. For additional information please click on the following document. (See attached file: USDA Katrina Rita Wilma Extended Moratorium April 2006 (conformed copy).doc)

USDA Loss Mitigation Guide

The USDA Rural Housing Service has released Administrative Notice (AN) 4165 clarifying its policies concerning loss mitigation actions and has issued a Loss Mitigation Guide. For additional information please click on the following link. http://www.rurdev.usda.gov/regs/an_list.html.

USDA Rural Development Housing



				KATRINA HOUSING HUD to Sell Homes at a Discount to Disaster Victims In the aftermath of the hurricanes, HUD provided interim rental housing to many families in the form of HUD-owned properties in the states of South Carolina, Georgia, Florida, Kentucky, Tennessee, Arkansas, Oklahoma and Texas. These families will be offered the opportunity to purchase the homes they are currently occupying at a discount of ten percent off the property€冱 fair market value. Additionally, HUD will help current tenants pay for property repairs by funding a repair escrow equal to 15% of the contract price. HUD is also establishing a nationwide sales initiative providing discounts and preferences for Gulf area hurricane evacuees seeking housing anywhere in any of the 50 states. Effective the week of May 1, almost all new properties listed for sale by HUD will be offered exclusively to hurricane evacuees for a period of five days at a price that is ten percent below fair market value. FEMA qualified evacuees may submit offers through a licensed real estate broker. For additional information and full participation requirements, interested parties can call 1-800-CALLFHA or FAQs relative to the Hurricane Evacuee Sales Program can be found on the web site at http://www.hud.gov/offices/hsg/sfh/faqs/katsales.cfm. Deed-in Lieu Assistance FHA MORTGAGEE LETTER 2006-10, dated May 3, 2006, allows special authority for the use of deed-in-lieu to assist victims Hurricanes Katrina, Rita, and Wilma in Presidentially-Declared major disaster areas in Alabama, Florida, Louisiana, Mississippi and Texas. This Mortgagee Letter provides special expanded authority to make it easier for mortgagees to accept voluntary conveyances of property from borrowers in those cases where, due to storm damage, the home is not habitable and will not be restored. To read this mortgagee letter in its entirety, please visit: http://www.hud.gov/offices/hsg/mltrmenu.cfm select 2006 letters and click on letter number 10. USDA Foreclosure Moratorium Extensions for Borrowers The USDA has extended its foreclosure moratorium in the Hurricane affected areas up to June 30, 2006 provided specific requirements are met. For additional information please click on the following document. (See attached file: USDA Katrina Rita Wilma Extended Moratorium April 2006 (conformed copy).doc) USDA Loss Mitigation Guide The USDA Rural Housing Service has released Administrative Notice (AN) 4165 clarifying its policies concerning loss mitigation actions and has issued a Loss Mitigation Guide. For additional information please click on the following link. http://www.rurdev.usda.gov/regs/an_list.html. USDA Rural Development Housing Who we are \| Online Donations \| 501 (c) 3 \| Volunteer Our Audits \| Code of Ethics \| Privacy Statement \| Favorite Links Economic Development





	Roots of Mankind, Corp. 4273 Branch Avenue Suite 205 Temple Hills, MD 20748 1.866.490.6800 Updated on 27 January, 2008