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MortgagePoint August 2024

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67 August 2024 J O U R N A L their collaborative housing work after the Initiative ended. The Latest Challenge Hurricane Beryl, the second named storm of the 2024 season, recenty made its final landfall over coastal Texas. The storm traveled more than 4,000 miles since the National Hurricane Center (NHC) named it as a tropical storm in the central Atlantic Ocean. According to the NHC, Hurricane Beryl made landfall over Matagorda, Texas as a Category 1 cyclone with maximum sustained wind speeds of 80 miles per hour. After land- fall, Hurricane Beryl turned north and north-northeast while maintaining hur- ricane strength hours after landfall, as weather stations across the Houston area recorded hurricane-force wind gusts. FEMA announced that federal disaster assistance is available to the state of Texas to supplement recovery efforts in the areas affected by Hurricane Beryl from July 5-9, 2024. Benjamin Abbott has been named Federal Coordinating Offi- cer for federal recovery operations in the affected areas. Additional designations may be made at a later date if requested by the state and warranted by the results of further assessments. CoreLogic's Hazard HQ Command Central estimates that total insured wind and storm surge losses in Texas will be between $700 million and $1.5 billion. This is an initial estimate that may be updated when more data becomes available. The estimated losses include damage to residential, commercial, industrial, and agricultural properties, including damage to contents and busi- ness interruption. The estimate includes a demand surge. The losses do not in- clude damage to offshore exposure. The estimated flood losses do not include losses to the National Flood Insurance Program (NFIP). VA ISSUES GRANTS IN THE FIGHT AGAINST HOMELESSNESS T he U.S. Department of Veterans Affairs (VA) has awarded $26.8 million in legal services grants to a total of 108 public and nonprofit orga- nizations, all with the goal of increasing access to legal services for eligible U.S. veterans experiencing or at risk for homelessness. The VA home loan program, which recently celebrated its 80th anniversary, has provided more than 28 million loans to veterans to date. Last year alone, veter- ans obtained 400,000-plus homes loans through this program. These grant funds made available as part of VA's Legal Services for Home- less Veterans and Veterans At-Risk for Homelessness Grant Program, more than double the total dollars and mark a 37% increase in grantees over last year's inaugural grant cycle. "Every veteran deserves access to safe, affordable, and permanent housing, and we know that legal support is among the most needed services by Veterans ex- periencing or at risk for homelessness," VA Secretary Denis McDonough said. "Through these grants, we are working hard to ensure veterans' unique civil le- gal needs are met and drive towards our ultimate goal of ending homelessness for all veterans and their families." Legal Services Provided This grant program is enabled by the Johnny Isakson and David P. Roe, M.D., Veterans Health Care and Benefits Improvement Act of 2020 and ensures at least 10% of funding supports the provision of legal services for women veterans. Individual grant awards are up to $300,000 for a 14-month grant cycle starting Aug. 1, 2024. Grant recipients will deliver a variety of legal services to veterans, including: » Providing representation in land- lord-tenant disputes to prevent eviction. "This partnership with FEMA is important to ensure that when another disaster strikes, recovery can occur quickly, and people receive the help they need." —Adrianne Todman, HUD Acting Secretary

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