Mississippi to Receive 3 Billion in HUD Aid for Katrina Victims

Posted in HUD Homes, August 31st, 2006 |

Thousands of Hurricane Katrina victims in Mississippi will soon be receiving some much needed economic help.

The U.S. Housing and Urban Development Department, also known as HUD, has released $3 billion to Mississippi to be distributed and used to rebuild housing along their battered coastline. The money will help thousands of homeowners recover from the hurricane.

Qualified homeowners who suffered loss or damage to their property during the hurricane will soon receive up to $150,000 each in assistance. This marks another step in the work of HUD to assist the victims of Katrina who, outside the assistance of HUD, have not received much in the way of financial assistance from federal government agencies.

Louisiana will also receive $4.2 billion from HUD for the same purposes. This money will obviously contribute to a radical redevelopment of the private and public housing sectors in those areas for years to come.