Industry News

Mortgage Relief for Disasters Announced

Important Mortgage Relief Announcement

This is good news for those who had been affected by recent disasters because Freddie Mac issues MORTGAGE RELIEF offer to those affected by disasters.  The latest relief recipients are those affected by the wildfires in California.  Although, we know that what happened was really terrible it is timely to gab this opportunity.

Mortgage borrowers whose mortgage is owned by Freddie Mac can contact your mortgage company right away.  There will be relief options waiting for you to assist you on your recovery.

Freddie Mac Mortgage Relief Options

Mortgage Relief from Freddie Mac

Key features of the Freddie Mac Mortgage Relief includes suspension of mortgage payments for up to 12 months.  They can also waive assessments of penalties or late fees against borrowers with disaster-damaged homes.  Also, suspension of reporting forbearance or delinquencies caused by the disaster to the nation’s credit bureaus can also be given.

If you are a homeowner that is facing hardship but is not affected by the wildfires you might still be eligible for standard relief options.  Standard mortgage relief options includes temporarily suspending mortgage payments or a mortgage modification. It’s important to contact your mortgage company as soon as possible to discuss your situation and explore your options.

Mortgage Relief Options by Disasters

Here are some of the key states and areas which can avail mortgage relief based on the recent disasters.  Also, for full list you can visit the website of the Federal Emergency Management Agency (FEMA).

  • California Wildfires (DR-4344)
    Incident period: October 08, 2017
    Major Disaster Declaration declared on October 10, 2017
  • U.S. Virgin Islands Hurricane Maria (DR-4340)
    Incident period: September 16, 2017
    Major Disaster Declaration declared on September 20, 2017
  • Puerto Rico Hurricane Maria (DR-4339)
    Incident period: September 17, 2017
    Major Disaster Declaration declared on September 20, 2017
  • Georgia Hurricane Irma (DR-4338)
    Incident period: September 07, 2017
    Major Disaster Declaration declared on September 15, 2017
  • Florida Hurricane Irma (DR-4337)
    Incident period: September 04, 2017
    Major Disaster Declaration declared on September 10, 2017
  • Puerto Rico Hurricane Irma (DR-4336)
    Incident period: September 05, 2017 to September 07, 2017
    Major Disaster Declaration declared on September 10, 2017
  • U.S. Virgin Islands Hurricane Irma (DR-4335)
    Incident period: September 05, 2017 to September 07, 2017
    Major Disaster Declaration declared on September 07, 2017
  • Texas Hurricane Harvey (DR-4332)
    Incident period: August 23, 2017 to September 15, 2017
    Major Disaster Declaration declared on August 25, 2017

Thus, if you have loans with us or any of our “Doing Business As” (DBAs) please send us a message and we will assist you.

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