Rampant flooding calls for disaster assistance across U.S.
Several states were given federal dollars to help local residents rebuild after seasonal flooding led to heavy damage and homeowners insurance claims across the country.
Storms in South Dakota led to rising flood waters throughout that state, spurring President Barack Obama to issue a major disaster declaration in 28 counties. The Department of Housing and Urban Development announced those funds would go directly to local governments and residents repairing and rebuilding homes in the wake of the storms. In addition, mortgage borrowers who find themselves behind on their payments due to the storms can receive relief. HUD granted a 90-day moratorium on foreclosures and will provide mortgage insurance to those who have lost their homes.
"Families who may have been forced from their homes need to know that help is available to begin the rebuilding process," said HUD Secretary Shaun Donovan. "Whether it's foreclosure relief for FHA-insured families or helping these counties to recover, HUD stands ready to help in any way we can."
Federal Emergency Management Association officials also told the Associated Press the state of Arkansas will receive $4.2 million in assistance for disaster areas in 16 counties.
Related Home Insurance Articles:
- Homes destroyed by Nevada wildfire May 23, 2012
- Researchers hope to better understand tornado damage May 22, 2012
- Total costs from Minneapolis tornado reach $80 million May 21, 2012
- Analysis shows more than $2B of insurance claims from Joplin tornado May 18, 2012
- Recovery continues for Michigan tornado victims May 17, 2012
