Photo: Christian Martinez/Office of the Governor.
A foreclosure moratorium has been extended in multiple states including Virginia that were impacted by two hurricanes: Helene and Milton.
The U.S. Department of Housing and Urban Development announced the 90-day extension this morning. The moratorium had been set to expire on Friday.
The extensions provide more time to request federal, state or local assistance for those in devastated areas including Florida, Georgia, North Carolina, South Carolina, Tennessee and Virginia.
The moratoriums also prohibit mortgage servicers from initiating or completing foreclosure actions on FHA-insured single-family forward or home equity conversion mortgages through July 10.
“Individuals and families across the Southeast are still putting pieces of their livelihoods back together following back-to-back hurricanes this fall,” said HUD Secretary Scott Turner. “HUD remains committed to the long-term recovery of these impacted communities. Today’s action will allow more flexibility as our fellow Americans continue working to stabilize their families, properties and communities.”
Congressman Morgan Griffith (R-VA-09) said the 90-day extension should alleviate financial and housing burdens caused by Helene.
“Helene decimated communities in Southwest Virginia and altered the housing situations of countless families,” said Griffith.
Information for borrowers and renters
- For those with a mortgage insured by FHA in the disaster areas who are unable to make their mortgage payments, immediate relief is available. Homeowners are likely to have a range of options that can help them avoid the need to default on their mortgages or to sell their home or land. Borrowers should contact their mortgage servicer for assistance. Borrowers may also contact the FHA resource center at (800) CALL-FHA.
- For borrowers and renters who need immediate housing and disaster recovery assistance, HUD-certified housing counselors are prepared to provide guidance on the options that are available. To find a HUD-approved housing counseling agency, borrowers can visit www.hud.gov/findacounselor or use our phone search by calling (800) 569-4287.
- For borrowers whose homes are destroyed or damaged to an extent that requires reconstruction or complete replacement, contact an FHA-approved lender about FHA’s section 203(h) program. This program provides 100 percent financing for eligible homeowners to rebuild their home or purchase a new one.
- For borrowers seeking to purchase and/or repair a home that has been damaged, contact an FHA-approved lender about FHA’s section 203(k) loan program. This program allows individuals to finance the purchase or refinance of a house, as well as the costs of repair or renovation through a single mortgage.
Related stories
For additional coverage, search “Hurricane Helene” or “Hurricane Milton” on Augusta Free Press.
- HUD extending pause on foreclosures in areas affected by hurricanes through April 11
- Virginia set to receive $1.3M to restore damages from Hurricane Helene
- Analysis: Hurricane Helene’s impact on agricultural producers in Virginia may reach $630M
- Youngkin sets up Helene recovery office, appoints Rob Ward to head it up
- That Elon Musk ‘free’ internet for Helene victims thing: Yeah, just another scam
- Virginia Tech cadets forgo traditional hike to help nearby community damaged by Helene
- Waynesboro: 40 years of work mitigated flooding damage from Helene
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Crystal Graham
