HUD announces plans for Arkansas tornado disaster assistance

LITTLE ROCK, Ark. – The U.S. Department of Housing and Urban Development has outlined its plans for Arkansas residents affected by the March 31 storms. On April 2, the federal government made a major disaster declaration for Cross, Lonoke and Pulaski counties. The three counties were significantly impacted by the March 31 tornadoes, with many homes rendered uninhabitable. HUD officials said that effective immediately, a 90-day moratorium on foreclosures of properties mortgaged through the Federal Housing Administration is in place for thoses in affected counties. In addition, a 90-day extension is automatically in place for Home Equity Conversation Mortgages. HUD…