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Required Procedures for Hampton Properties due to Storm of November 11, 2009

November 19, 2009

To:  VHDA Originating Agents

Re:  Storm of November 11, 2009
     Required Procedures for Hampton Properties 

On November 11, 2009 Governor Kaine declared a State of Emergency for Virginia in response to the combined effects of the remnants of Tropical Storm Ida and a coastal Nor’easter.

In an effort to protect our customers and VHDA’s security interest, the following procedures have been established for closings on properties located in Hampton and surrounding areas with appraisals dated on or before November 11, 2009.  These procedures are effective immediately.  The affected areas include:
Virginia Beach
Chesapeake
Portsmouth
Suffolk
Isle of Wight
Surry
James City
Newport News
York
Williamsburg
Hampton
Poquoson
Gloucester
Matthews
The Eastern Shore

VHDA Borrower Certification Regarding Property Condition:
A “Borrower Certification Regarding Property Condition” must be executed prior to loan closing on all property located in Hampton and surrounding areas with appraisals dated on or before November 11, 2009, regardless of the existence of damage.  The certification ensures that the borrower has inspected the property subsequent to the storm and provides an acknowledgement and assessment of the condition.  This certification is available via the link above.

Repair Requirements and Loan Closing:
Loan closing will not be allowed if there has been any damage to property improvements.  All repairs to property improvements must be completed and a final inspection provided prior to closing.  Escrow for minor repairs may be considered on a case-by-case basis.  Please contact VHDA directly for consideration of these special cases.

Any questions regarding these procedures or other related issues should be directed to Single Family Development at 804-782-1986.

Thank you for your cooperation and assistance as we all work through the problems related to this storm.

Contact Us

Homeownership Program Department

Toll free: 800-227-8432
Local: 804-783-6725
Single Family Staff Directory

Customer Service

Toll Free: 877-VHDA-123
Local: 804-782-1986

 

Virginia Relay

In Virginia: 711
Toll Free: 800-828-1140

 

VHDA Fraud, Waste or Abuse Hotline

Phone: 804-915-3146
Email: InternalAudit@vhda.com
Website: Reporting Fraud, Waste or Abuse