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HUD Provides Foreclosure Relief to Texans Impacted by Floods

HUD Provides Foreclosure Relief to Texans Impacted by Floods

The U.S. Department of Housing and Urban Development announced a 90-day foreclosure moratorium on FHA-insured single-family mortgages in Kerr County, Texas.

Why it matters: HUD says there are more than 900 FHA-insured mortgages in the Kerr County Presidentially Declared Major Disaster Area (PDMDA).

  • The Department is working with mortgage servicers and others to assess the extent of the damage and destruction to properties with FHA-insured mortgages in the designated area.
  • The 90-day moratorium prohibits mortgage servicers from initiating or completing foreclosure actions on FHA-insured single family forward mortgages and HECMs.

What’s next: If you’re contacted by a client who needs help, please have them contact their servicer immediately.

Published by

Darryl Hicks

Darryl Hicks is Vice President of Communications for the National Reverse Mortgage Lenders Association. In this capacity, Hicks writes for NRMLA's publications, manages the association's web sites and social media accounts, assists committees and the Board of Directors, and manages the Certified Reverse Mortgage Professional designation. Prior to joining NRMLA in 1999, Hicks spent three years in the Washington, D.C. bureau for National Mortgage News.