Industry News

Housing recovery program progresses in Louisiana

An estimated 120,000 people could qualify for assistance

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Forty-two applicants will receive total compensation of about $1.5 million in the next few weeks through a pilot program offered by the state of Louisiana, the state's Office of Community Development announced. The state's Road Home program provides financial assistance to residents who suffered losses from Hurricane Katrina or Rita. The Road Home is the largest housing recovery program in U.S. history, according to the state's announcement. The governor, the Louisiana Recovery Authority and the Office of Community Development teamed up to create the program, which is intended to award eligible homeowners up to $150,000 in compensation for their losses to get back into their homes. More than 100,000 people initially registered for the Governor's Road Home program, and the state estimates that as many as 120,000 people could qualify for assistance, according to the announcement. In the first phase of the program, a registry was created to assist in designing the program based on homeo...