The U.S. Department of Housing and Urban Development (HUD) has announced that low-income homeowners in Arkansas impacted by recent tornadoes will receive financial assistance. HUD, working in conjunction with Arkansas’ Arkansas Development Finance Authority, initiated a $21 million Disaster Recovery Home Loan Program. This will provide low-interest loans, of up to $50,000 in assistance to help individuals repair their homes and replace damaged personal property.
The loan program has been designed to serve those in Garland, Montgomery, Pike, Polk and Yell counties, who have been impacted by recent tornadoes. HUD has made it a priority to reach out and provide vital financial resources for housing needs. They understand the importance of helping people rebuild homes and communities struck by disaster.
The program is part of HUD’s Community Development Block Grant – Disaster Recovery Program, which has been helping people affected by disasters since 1974. The program provides grants to states and local governments to help with immediate and long-term housing needs of individuals and families following a disaster. The president’s disaster declaration in Arkansas triggered HUD’s ability to treat this tornado as an eligible disaster.
Arkansas Governor Asa Hutchinson has applauded HUD’s efforts to provide assistance to those affected by tornadoes in his state who need housing resources. He noted that the timeline for access to the money is critical and thanked HUD for stepping in to provide help. Hutchinson noted that this declaration is a meaningful step towards long-term economic stability for rural Arkansas.
Overall, HUD has provided Arkansas with $21 million in Disaster Recovery Home Loan Program funds to help individuals and families impacted by the recent tornadoes. The loan program is a part of HUD’s Community Development Block Grant – Disaster Recovery Program, which has provided disaster-related assistance to communities since 1974. The governor of Arkansas received the announcement positively and thanked HUD for their swift action towards providing help to those affected.
You can read this full article at: https://www.housingwire.com/articles/hud-announces-relief-for-arkansas-homeowners-impacted-by-tornadoes/(subscription required)
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