August 5, 2021

MP Now News

Mortgage News

Deadline Approaches for Winter Storm Related SBA Disaster Loans

The Federal Emergency Management Agency is reminding Texans of the important deadline to apply for financial assistance for damage caused by the freezing winter in February 2021.

According to FEMA the application deadline The Small Business Administration low-interest catastrophe loan is Thursday, May 20, 2021. Texas homeowners can apply for up to $ 200,000 to cover damage to their primary home if it was damaged in the winter storm.

Texas homeowners can even qualify for up to $ 40,000 to repair or replace personal property in their primary residence if it was also damaged by the winter storm.

To apply for an assistant, you’ll need access to your social security number, annual household income, contact information, insurance information, and bank account information.

In related news, the Texas House just passed a proposal that would attempt to weather power plants in Texas. House Bill 2000 is designed to help prevent power outages the state experienced in the historic February winter storm that killed more than 150 people.

The bill would allocate more than $ 2 billion for power generation companies to weather their equipment. The law would also create the State Utilities Reliability Fund, which provides various forms of loans and finance to energy companies across the state.

Those who oppose the bill say it wrongly used taxpayers’ money to fund private utility companies. The objecters say energy companies should be the ones who invest in themselves as a natural part of their business.

House Bill 2000 now has to pass the Texas Senate. According to a source, if the law is passed, it would also have to be passed by Texan voters as it appears to make changes to the Texas constitution.

LOOK: The most expensive weather and climate disasters of the last decades

Forklift ranked the billions’ costliest climate disasters since 1980 based on the total cost of all damage adjusted for inflation 2021 data from the National Oceanic and Atmospheric Administration (NOAA). The list starts with Hurricane Sally, which caused $ 7.3 billion in damage in 2020, and ends with a devastating hurricane in 2005 that caused $ 170 billion in damage and at least 1,833 Killed people. Read on to discover the 50 most expensive climate catastrophes in the United States in recent decades

TIPS: How to Prepare for Power Outages