The Department of Housing and Urban Development recently approved Louisiana's plan to use federal money for repairs, reconstruction and buyouts of hurricane-damaged property.

Gov. Kathleen Blanco pushed the "Road Home" plan. The plan is worth more than $8 billion. However, it still needs congressional approval of $4.2 billion and Jackson urged Congress to approve the funding during a news conference Tuesday with Blanco.

Blanco said that once the plan has been approved, displaced homeowners would receive checks by late summer. It would provide grants of as much as $150,000 per homeowner. For those who are repairing or rebuilding, the grant would cover the costs exceeding what was covered by insurance policies. This also includes grants from the Federal Emergency Management Agency. There would also be incentives for people to rebuild Louisiana.

By M. Sese
http://realestatepress.org