Did you Lose your Home in the Wild Fires? Oregon Homeowners and Renters can Receive Federal Relief through Grants and Loans!
Oregon fire victims now have help from the federal government in the form of loans with beneficial terms. Victims of FEMA-listed natural disasters areas can qualify for 203 FHA loans. They can be used to rehab an existing structure or to purchase a replacement home in the wake of the disaster. These mortgages are available as loans but also as refinance mortgages. Renters can purchase a home to replace an existing structure, if it’s in the disaster area. In addition, The program provides mortgage insurance to protect lenders against the risk of default on loans to qualified disaster victims. The best part is the loans are 100% financeable and 0% down. Closing costs and prepaid expenses must be paid by the borrower.
The Oregon Association of Realtors is also helping out fire victims. They have a large grant of $500,000. People who lost their homes are eligible for up to $1000 in relief money to pay a mortgage or rent.
Even more grant money is available to recover the expenses of basic food and services.
This grant is from the Oregon Home Foundation.
Grant money is limited and the 203 FHA loans are only available for one year after the disaster event. If you are someone in need of help and has been a victim of the wildfires, now is a good time to apply!
Oregon Association of Realtors
Federal Housing Administration | HUD.gov / U.S. Department
ashlandhome4saleblog.wordpress.com 