.jpg) RISMEDIA,
December
28,
2009—The
U.S.
Department
of
Housing
and
Urban
Development
announced
that
FHA-insured
families
experiencing
problems
associated
with
problem
drywall
may
be
eligible
for
assistance
to
help
them
rehabilitate
their
properties.
In
addition,
HUD’s
Community
Development
Block
Grant
(CDBG)
Program
may
also
be a
resource
to
help
local
communities
combat
the
problem.
FHA
is
reminding
its
approved
lenders
that
they
are
to
offer
special
foreclosure
for
borrowers
confronted
with
the
sudden
effects
of
damaging
drywall
products
in
their
homes
including
the
financial
hardship
associated
with
related
home
repairs.
“We’re
instructing
our
FHA
mortgage
lenders
nationwide
to
extend
temporary
relief
to
allow
these
families
time
to
remove
problem
damaging
drywall
and
repair
their
homes,”
said
FHA
Commissioner
David
Stevens.
“We
want
to
remove
additional
pressures
for
these
families
as
they
find
solutions
to
allow
them
to
return
to a
safe,
decent
and
sanitary
home.”
FHA
Type
1
Special
Forbearance
(noted
in
Mortgagee
Letter
2002-17)
provides
relief
that
is
not
typically
available
under
an
informal
forbearance
or
repayment
plan.
This
relief
provided
can
include
one
or
more
of
the
following:
-suspension
or
reduction
of
payments
for
a
period
sufficient
to
allow
the
borrower
to
recover
from
the
cause
of
default;
-a
period
during
which
the
borrower
is
only
required
to
make
their
regular
monthly
mortgage
payment
before
beginning
to
repay
the
arrearage;
or
-a
repayment
period
of
at
least
six
months.
HUD
is
instructing
lenders
that
no
late
fees
are
to
be
assessed
while
the
borrower
is
making
timely
payments
under
the
terms
of
the
Special
Forbearance
plan.
The
total
arrearage
for
a
Type
1
Special
Forbearance
cannot
exceed
12
months
of
delinquent
payments.
Lenders
can
review
borrower
applications
and
make
a
determination
as
to
the
most
appropriate
loss
mitigation
tool
including
loan
modification,
partial
claim,
or
FHA
HAMP.
Any
questions
or
clarification
regarding
the
Type
1
Special
Forbearance
should
be
directed
to
the
HUD
National
Servicing
Center
at
888-297-8685.
HUD’s
CDBG
Program
is
another
resource
to
help
states
and
local
communities
address
the
rehabilitation
expenses
associated
with
problem
drywall.
Historically,
CDBG
has
helped
to
support
local
efforts
to
rehabilitate
homes
through
grants,
loans,
loan
guarantees,
and
other
means.
In
addition,
CDBG
may
also
support
the
following
activities:
- Code enforcement.
- Acquisition
- Clearance and remediation activities
- Relocation
All
CDBG-assisted
activities
must
meet
one
of
the
program’s
three
national
objectives:
Provide
benefit
to
low-
and
moderate-income
persons;
Eliminate
slums
or
blighting
conditions;
or
address
an
immediate
threat
to
the
health
or
welfare
of
the
community.
The
Consumer
Product
Safety
Commission
(CPSC)
reports
that
more
than
2,360
homeowners
in
35
states
and
the
District
of
Columbia
(primarily
in
Florida,
Louisiana,
and
Virginia)
have
filed
complaints
of
possible
drywall-related
problems
including
damage
to
electrical
wiring,
plumbing,
utilities,
and
a
variety
of
health
concerns.
The
drywall
emits
sulfur
gases.
One
of
these,
hydrogen
sulfide,
which
corrodes
copper,
was
found
at
higher
levels
in
homes
with
the
drywall.
Copper
sulfide
corrosion
damage
has
been
found
on
wiring,
pipes,
and
household
appliances
in
homes
with
the
drywall.
In
addition,
the
Centers
for
Disease
Control
and
Prevention
(CDC)
is
examining
possible
health
consequences
related
to
this
drywall.
Last
June,
as
part
of
the
National
Day
of
Service,
HUD
Secretary
Shaun
Donovan
welcomed
a
New
Orleans
family
back
to
their
home
after
the
installation
of
problem
drywall
had
further
delayed
their
return
following
Hurricane
Katrina.
Then,
in
October,
Donovan
toured
another
home
in
Boyton
Beach,
Florida
to
see
for
himself
the
effects
of
problem
drywall.
The
family’s
air
conditioner
condenser
coils
were
corroded,
the
home
smelled
of
sulfur,
and
the
family’s
16-month-old
daughter
suffered
from
allergies
and
upper
respiratory
problems,
which
the
family
believed
were
associated
with
home’s
drywall.
CPSC,
in
partnership
with
the
CDC,
the
Environmental
Protection
Agency
(EPA),
U.S.
Customs
and
Border
Protection
and
HUD
is
coordinating
the
federal
government’s
response
into
which
particular
drywall
products
pose
a
risk
to
human
safety
and
health
and
structural
integrity.
Anthony
Stokes
Pereira
welcomes
your
questions
and
comments.
Send
your
e-mail
to:
anthony.stokespereira@randrealty.com
or
use
the
Contact Me
page.
Anthony
Stokes
Pereira
I can help you with every
aspect of buying or selling your home because I’m
experienced, because I am a Better Homes and Gardens
Rand Realty Real Estate Professional . . .and because I
care.
As
your
Better
Homes
and
Gardens
Rand
Realty
Sales
Professional,
I
will
provide
you
with
the
information
you
need
to
make
an
educated
decision.
The relationship between a home buyer or seller and their agent is based on trust, shared goals and understanding. I strive to continually improve and to do this I listen and take the needs and wants into consideration.
For assistance with any of your real estate needs, please contact me, whether it's to get started on helping you realize your goals and dreams, or just to ask a question - no pressure, no hassle, no obligation - just a friendly conversation. I would welcome the opportunity to make a difference for you. |
