Following a challenging 2024 hurricane season, affected homeowners in Florida are set to receive crucial aid through combined state and federal efforts.
Governor Ron DeSantis recently announced a significant boost in funding, with $7 million allocated to repair and rebuild homes affected by Hurricanes Helene and Milton. Homeowners in need of assistance are encouraged to apply through the Florida Disaster Fund by contacting the designated hotline.
Furthermore, an additional $800,000 is designated for school districts in Lafayette, Hamilton, and other affected counties, alongside first responder organizations, facilitating their recovery efforts. The state’s commitment to disaster recovery leverages its stable financial situation to support devastated communities.
On a federal level, the U.S. Senate’s approval of the Federal Disaster Tax Relief Act marks a noteworthy development. This legislation enables individuals to claim disaster-related losses from the recent hurricanes without itemizing deductions. U.S. Representative Greg Steube emphasized the urgency of providing tax relief to individuals affected not just by recent storms but also by earlier hurricanes like Ian and Nicole.
Additionally, the Federal Housing Administration (FHA) is extending a moratorium on foreclosures for FHA-insured mortgages in regions severely hit by Hurricanes Helene and Milton. This extension through April 11 provides homeowners additional time to explore options with their mortgage servicers.
Insurance claims following Hurricane Milton indicate substantial damage, with over 60% of claims closed to date, and estimated insured losses exceeding $3 billion. Similarly, Hurricane Helene caused significant impact, with claims highlighting nearly $2 billion in insured losses across the affected counties.
These measures reflect a coordinated effort to assist Floridians in rebuilding their lives post-disaster. By addressing both immediate needs and longer-term rebuilding efforts, state and federal agencies are working together to restore stability and normalcy for the affected communities.
Source: Floridarealtors
