Foreclosure moratoriums on Federal Housing Administration single family mortgages are extended 90 days in disaster areas associated with Hurricanes Helene and Milton, the Department of Housing and Urban Development said Tuesday.
“Individuals and families across the Southeast are still putting pieces of their livelihoods back together following back-to-back hurricanes this fall,” Secretary Scott Turner said. “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.”
Hurricanes Helene and Milton wreaked havoc on Florida, Georgia, North Carolina, South Carolina, Tennessee and Virginia. A release from HUD says more than 1 million single family mortgages are within these presidentially declared major disaster areas.
Mortgage services, according to the release, cannot initiate or complete foreclosure actions “on FHA-insured single family forward or Home Equity Conversion mortgages in the Hurricane Helene and Milton PDMDAs through July 10.”
It is the second extension of the moratoriums. Without the extension, the first would have expired on Friday.
North Carolina took the hardest hit from Helene, with 107 of the storm’s 236 deaths and an estimated $60 billion in damage. Forty-two died in the United States because of Milton; damage was estimated at more than $34 billion in Florida.
In a statement, U.S. Sen. Thom Tillis, R-N.C., said, “As western North Carolina works to recover from the devastation left by Helene, it is crucial that we provide families with the support they need to restore their homes and rebuild their lives. Extending the foreclosure moratoriums offers vital time and flexibility for borrowers to access critical assistance, ensuring that no family is left behind as they work to recover and move forward.”
Tennessee Republican U.S. Sen. Marsha Blackburn said the federal support is needed and appreciated.
U.S. Rep. Greg Steube, R-Fla., said in a release, “As the Suncoast continues to rebuild from Hurricanes Helene and Milton, Florida families deserve our full support as we recover from the devastating impact of natural disasters. This extension from HUD is a critical step in helping our communities stay housed while they recover. I appreciate HUD’s continued attention to the needs of Floridians as we work together to rebuild stronger than before.”
Florida was hit by three hurricanes in 66 days.
Debby made landfall as a Category 1 hurricane near Steinhatchee on Aug. 5, Helene made landfall as a Category 4 hurricane in Dekle Beach on Sept. 26, and Milton made landfall as a Category 3 hurricane near Siesta Key on Wednesday night.
Helene became problematic for the Carolinas and Tennessee when it began to dissipate over the mountains, in some places dropping more than 30 inches of rain. The terrain created rushing currents, very unlike the Carolinas shores near sea level when hit by hurricanes.
