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Hurricane Ida Disaster Resources

Following the landfall of Hurricane Ida [1] and presidential declaration [2] of major disaster areas throughout Louisiana, government agencies announced assistance measures.

The following parishes in Louisiana are major disaster areas: Ascension, Assumption, East Baton Rouge, East Feliciana, Iberia, Iberville, Jefferson, Lafourche, Livingston, Orleans, Plaquemines, Pointe Coupee, St. Bernard, St. Charles, St. Helena, St. James, St. John the Baptist, St. Martin, St. Mary, St. Tammany, Tangipahoa, Terrebonne, Washington, West Baton Rouge, and West Feliciana.

The U.S. Department of Housing and Urban Development (HUD) sent a press announcement noting that the following items go into immediate effect:

For homeowners, servicers, and others dealing in FHFA-backed mortgages, Fannie Mae and Freddie Mac also have issued reminders about regular programs in place for flooding and wildfire relief and protections.

Fannie Mae reports: Mortgage servicers are authorized to offer forbearance for up to 90 days—even without establishing contact —if the servicer believes the homeowner was affected by the disaster. Homeowners affected by a disaster are often eligible to reduce or suspend their mortgage payments for up to 12 months sans late fees or threat of foreclosure. There are a number of options available to potentially help homeowners catch up on missed payments, including Disaster Payment Deferral. [12]

Freddie Mac’s VP of Single-Family Servicing Portfolio Management, Bill Maguire, says that, along with its mortgage servicers, "Freddie Mac stands ready to provide immediate mortgage relief options to those affected by Hurricane Ida."

Freddie's disaster relief options [13] are available to homeowners whose homes or places of employment are located in presidentially-declared Major Disaster Areas [14].

Maguire added, “Once safe, homeowners whose homes are impacted should contact their mortgage servicer—the company they send their monthly mortgage payments to— as soon as possible to talk about available mortgage relief options. This also includes homeowners whose places of employment have been impacted resulting in a financial hardship that prevents them from being able to make their monthly payment.”