Hurricane Victims May be Put in Foreclosed Homes

June 3, 2009 No Comments »


Every storm cloud has a silver lining, right?

The federal government is apparently considering housing hurricane evacuees in foreclosed properties if another Katrina-like storm devastates the Gulf region, the AP reported today.

The move would aim to ensure that hurricane victims, commonly displaced to neighboring cities, stay put, unlike the many that left New Orleans and never came back, slowing the ultimate recovery.

The program, spearheaded by FEMA, is still being developed, and would likely require banks and mortgage lenders to compile lists of available homes for use as temporary shelters.

Evacuees would then be assigned to live in foreclosed homes close to their own, seemingly destroyed homes; FEMA would hire contractors to pay rent to whoever owns the properties.

Of course, this whole scenario wouldn’t happen unless there was a “large catastrophic event,” but apparently the agency wants every idea on the table to avoid another big mess.

There are several hundred thousand homes somewhere in the foreclosure process in the state of Florida, so there would likely be plenty of inventory if such a plan came to fruition.

Hurricane season officially began on June 1, according to FEMA.

Leave A Response