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HUD providing foreclosure protection for Md. storm victims

By Steve Kilar

The Baltimore Sun

12:44 PM EST, November 26, 2012

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The U.S. Department of Housing and Urban Development announced Monday that it is instituting a 90-day foreclosure moratorium on Federal Housing Administration-insured mortgages in Maryland areas hard hit by Hurricane Sandy.

As part of President Obama’s disaster declaration last week, the housing department is implementing foreclosure relief and other assistance for homeowners and low-income renters in 18 Maryland jurisdictions.

“Families who may have been forced from their homes need to know that help is available to begin the rebuilding process,” HUD Secretary Shaun Donovan said in a statement. “Whether it’s foreclosure relief for families with FHA-insured loans or helping these counties to recover, HUD stands ready to help in any way we can.”

In addition to the three-month moratorium on federally insured foreclosures and forbearance on those foreclosures, HUD is offering the following federal disaster-relief aid:

Plus, HUD is allowing Maryland officials to redirect money from existing federal resources, the Community Development Block Grant and HOME Investment Partnerships Program, toward disaster relief, if necessary.

“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,” the department’s statement said.

HUD’s post-Sandy relief and assistance applies to people living in Baltimore and the following Maryland counties: Allegany, Calvert, Caroline, Charles, Dorchester, Frederick, Garrett, Harford, Howard, Kent, Queen Anne’s, Somerset, St. Mary’s, Talbot, Washington, Wicomico and Worcester.

Have a real estate news tip or experience to share? Email me at steve.kilar@baltsun.com.