[StBernard] Road Home Disbursement Update

[Westley Annis]

ROAD HOME DISBURSEMENT UPDATE

BATON ROUGE, La., March 22, 2007 - Beginning April 2, 2007, The Road Home program will issue lump-sum awards directly to homeowners without mortgages, the Office of Community Development announced today. 

Applicants with closings scheduled between now and April 2 may still close on their awards which will be sent to a financial institution for disbursement. Once the new policy takes effect, the full amount of the award will be disbursed.


"We are encouraging homeowners to continue with their closings while we work quickly to implement the new policies," said Michael Taylor, director of the Disaster Recovery Unit of the Office of Community Development. "All homeowners will have the opportunity to take advantage of the options available under the new policies regardless of when they closed on their awards."


The State currently is setting policies for homeowners who hold mortgages on their homes and will announce implementation plans once policies are final. 


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