Severe flash floods in Texas have caused over 100 deaths and displacements. HUD is responding with resources and support for affected communities. More than 900 FHA-insured mortgages are affected in the Kerr County area. A moratorium on mortgage payments is in effect since July 6, following a disaster declaration. Borrowers unable to make payments should contact their servicer or the FHA Resource Center. HUD also encourages affected homeowners to explore reconstruction financing options through Section 203(h) and repair financing through Section 203(k) loan programs.
The flash floods have claimed the lives of more than 100 Americans and displaced countless others. It is an unfathomable tragedy, and HUD will continue to provide resources and support.
HUD is instructing borrowers who are unable to make their mortgage payments to contact their servicer or the FHA Resource Center for assistance.
For borrowers whose homes are destroyed or damaged to an extent that requires reconstruction or complete replacement, HUD is directing them to contact an FHA-approved lender.
HUD's announcement says to contact an FHA-approved lender about the Section 203(k) loan program, which allows for the purchase or refinance of a house, as well as the costs of repair.
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