The U.S. Department of Housing and Urban Development (HUD) has announced the implementation of federal disaster assistance for areas in Colorado affected by straight-line winds and wildfires from December 30, 2021, and continuing.
Federal funding is available to affected individuals in Boulder County, Colorado.
Federal funding provided by FEMA is also available on a cost-sharing basis for hazard mitigation measures for the affected county in Colorado. Effective immediately, HUD is providing immediate foreclosure relief in counties covered by the major disaster declaration – HUD's automatic 90-day moratorium on foreclosures of Federal Housing Administration (FHA)-insured home mortgages commenced on the date of the major disaster declaration, and foreclosures of mortgages to Native American borrowers guaranteed under the Section 184 Indian Home Loan Guarantee program. For assistance, call your loan servicer or FHA's Resource Center at 1-800-304-9320.
HUD's Section 203(h) program provides FHA insurance to disaster victims whose homes were destroyed or damaged to such an extent that reconstruction or replacement is necessary, and they are facing the daunting task of rebuilding or buying another home. Borrowers from participating FHA-approved lenders are eligible for 100 percent financing, including closing costs.
The Section 203(k) loan program enables those who have lost their homes to finance the purchase or refinance of a house along with its repair through a single mortgage. It also allows homeowners who have damaged houses to finance the rehabilitation of their existing single-family home.
Additionally, HUD-approved housing counseling agencies have counselors available to help those impacted by natural disasters to determine assistance needs and available resources.