Look on The Bright Side – Hurricane Ike May Offer New Opportunity
Thursday, October 16th, 2008The south has been hit hard by Hurricane Ike. And because of the damages to the housing industry the U.S. Housing and Urban Development Secretary announced that HUD will offer federal disaster assistance in a timely manner to several counties in Texas and Louisiana. According to Dean Graziosi this is good news! This means that homeowners in these areas will have the assistance they need through the Federal Housing Administration.
When Hurricane Ike hit Texas and Louisiana, it brought with it winds at 100 mph and a lot of rain. Many homes now either need to be rebuilt or repaired and HUD is offering the following assistance:
1. They are making mortgage insurance available to disaster victims. Victims have the ability of rebuilding or buying another home and are eligible for 100% financing and that includes closing costs.
2. They are offering Section 108 loan guarantee assistance. HUD will make available to these states federal guaranteed loans to help with housing rehabilitation, and economic development.
3. HUD is offering the state and local communities the ability to use money set for other projects for disaster relief. This will include housing and services for the tornado victims.
If you have recently bough property, or own a home in any of these areas that were hit by the natural disaster, then be sure to check with your local authorities to get the funding you need to either repair your home of to find the right mortgage for the right new property. Remember the key to being successful is being able to handle whatever comes your way, and take advantage of the good things that can come from it.
Don’t wallow in despair, now is the time to start acting and getting the help you need to make those repairs, buy that home, or change something that was affected.
















