The United States Government offers natural disaster relief options for homeowners affected by natural disasters. Disaster assistance comes in a few different forms, including loans for home repairs, utility bills and property tax relief.
To help you learn more about the kind of financial assistance available after a major disaster, here is a short guide with the basics:
The Federal Housing Administration (FHA) offers a program for homeowners who need financial help buying a new home or repairing their existing home. As long as the home is your primary residence, you might be eligible for an insured mortgage through the FHA.
These mortgages have zero down payments, but come with all the usual closing costs and prepaid costs of other mortgages.
Even if your home does not sustain significant damage in a natural disaster, such scenarios can make it difficult to afford utility repairs and expenses. Disaster relief funding available through the Low Income Home Energy Assistance Program (LIHEAP) and can be used to pay your utility bills, reconnect utilities and repair or replace components like furnaces or air conditioners.
Disaster situations may also come with tax relief. Both homeowners and businesses are eligible to file an amended tax return if they reside in a federally designated disaster area. The Internal Revenue Service also offers the option to file for an extension after a disaster.
These are a few of the disaster assistance programs offered by the U.S. federal government. Other forms of disaster relief might be available through the Federal Emergency Management Agency (FEMA), and can help you recover financially from a wide variety of hazards.
Kate Hogan – Amherst MA Realtor ® and Pioneer Valley
Your number one source for Real Estate in Amherst, MA, and surrounding towns!
Kate Hogan, a 20-year resident of Amherst and Top Producer at Brick & Mortar realty, has that unique combination of qualities you need in an agent: a big picture view of the entire Five College area, towns, and neighborhoods, a high standard of professionalism, and an innate talent for understanding homes. All of that, plus this savvy agent is known for being experienced, knowledgeable, and a lot of fun to work with. As a full-time real estate professional, Kate’s approach is focused on getting to know her clients as real people and taking care of them from beginning to end.
