Cabinet secretaries announce aid for flood victims

U.S. Secretary of Housing and Urban Development Shaun Donovan said the government has told all Federal Housing Administration lenders to put a 90-day moratorium on foreclosures for areas hit by recent flooding.
Donovan also said lenders will have flexibility to alter mortgage terms for flood victims who are having trouble making payments.
During a tour of downtown Nashville, Donovan and U.S. Secretary of Commerce Gary Locke were upbeat about the prospects for the city’s recovery.
Locke said he was impressed by how quickly businesses were cleaning up and planning to reopen. He also noted that residents whose homes were flooded were already making repairs.
Locke said 18,000 flood victims have registered with the Federal Emergency Management Agency so far. The agency has conducted 4,800 inspections and approved $29 million in aid already.