A couple of weeks ago, we reported on how the femas’ massive flooding forced the federal government to close some homes, and we covered how you can get a loan if you’re stuck in an area with limited access.
Today, we’re sharing a little more on how you may qualify for a loan from the Department of Housing and Urban Development (HUD).
First, the basics: You’ll need to be able to: Be a U.S. citizen or a legal permanent resident.
Make no more than $25,000 a year.
Have a mortgage.
Be willing to work at least 40 hours a week.
Have enough income to live on and not be under duress.
If you are unable to meet these requirements, the U.N. has also issued guidelines that help with applying for a mortgage through the UCCB (Unemployment Compensation Board).
We also want to clarify that this program will not help you if you are homeless.
It will not pay you back if you have lost your job.
If the program was set up for homeless people, it would be paid back.
If it was set-up for people who are in permanent housing, it is not.
To qualify, you must be unemployed for at least two weeks.
The program has been open since May 2018, but it is expected to be operational until December 2019.
If your application is approved, you will have a month to get your house in order before it’s due.
Once you have your house done, you’ll be able get a mortgage from the UCDB.
First, you should apply online.
You’ll then have to fill out a few more pieces of paperwork.
These include: A Social Security number or a driver’s license or ID card.