• Ocwen35.760.00 0.00%
  • Zillow145.760.00 0.00%
  • Trulia53.740.00 0.00%
  • NationStar32.860.00 0.00%
  • CoreLogic28.760.00 0.00%
  • RE/MAX28.560.00 0.00%
  • Fannie Mae4.220.00 0.00%
  • Freddie Mac4.170.00 0.00%
  • Wells Fargo51.590.00 0.00%
  • CitiMortgage50.090.00 0.00%
  • Bank of America15.620.00 0.00%
  • Auction.com0.00N/A N/A
  • Fidelity National Financial27.580.00 0.00%
  • Black Knight Financial0.00N/A N/A
  • AUDUSD=X0.9416N/A N/A
  • USDJPY=X101.795N/A N/A
  • WP Stock Ticker
Home | Daily Dose | Freddie Mac Extends Relief to Tornado-Impacted Communities
Print This Post Print This Post

Freddie Mac Extends Relief to Tornado-Impacted Communities

In a release issued this week, Freddie Mac announced it has opened up its "full menu" of relief policies for homeowners whose homes were damaged or destroyed by late April storms that swept across parts of the South and the Great Plains.

Freddie Mac’s disaster relief policies extend to jurisdictions declared by President Obama to be Major Disaster Areas and where Individual Assistance Programs are being made available, which as of May 1 included parts of Arkansas and Mississippi.

Mortgage relief options for affected borrowers in impacted areas include foreclosure suspension for up to 12 months, waived assessments of penalties or late fees against borrowers with damaged homes, and not reporting forbearance or delinquencies caused by the disaster to credit bureaus.

Freddie Mac also reminds servicers to consider standard relief policies for borrowers who work in eligible disaster areas but who live in unaffected jurisdictions.

"We strongly encourage borrowers to contact their servicers to discuss mortgage relief," said Tracy Mooney, SVP of single-family servicing at Freddie Mac.

About Author: Tory Barringer

Avatar of Tory Barringer
This user has not filled out their bio!

Leave a Reply

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title="" rel=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Scroll To Top