Welcome!




Expand Your Education with These Courses from
Bundle 3: CIPS Institute (Non-US Version).
Business Creation – Prospecting: Skills for Sales Success: Part Three.
Expand your education through NAR’s REALTOR® University: A Consumer Advocate Approach to Mortgages: Course 2.
A Consumer Advocate Approach to Real Estate & Mortgages: Courses 1 & 2.
At Home with Diversity.

Freddie Mac Extends Mortgage Relief to Borrowers Affected by Hurricane Irene

Have a comment on this article? Share on Facebook!

Freddie Mac’s (OTC: FMCC) full menu of relief policies for borrowers affected by disaster is being extended to homeowners whose homes were damaged or destroyed by Hurricane Irene and are located in counties that the President has declared to be Major Disaster Areas and where he has made federal Individual Assistance programs available to affected individuals and households. Freddie Mac is one of the nation’s largest investors in residential mortgages.

“Freddie Mac has authorized the nation’s mortgage servicers to provide a full range of mortgage relief options to affected borrowers with mortgages owned or guaranteed by Freddie Mac,” says Anthony Renzi, Executive Vice President of Single-Family Business, Operations and Technology at Freddie Mac.

“Forbearance on mortgage payments for up to one year are among the options our servicers have been instructed to offer borrowers on a case-by-case basis.”

Freddie Mac disaster relief policies provide a number of ways for mortgage servicers to help affected borrowers in the Major Disaster Areas where federal Individual Assistance programs have been extended.

Freddie Mac, for example, gives servicers the discretion to reduce or suspend mortgage payments for up to 12 months for borrowers with Freddie Mac-owned mortgages that have been affected by a disaster. Each case must be individually assessed to determine what assistance will best fit the homeowner’s circumstances.

Freddie Mac also strongly encourages servicers to help affected borrowers with Freddie Mac-owned loans by:
• Suspending foreclosure and eviction proceedings for up to 12 months;
• Waiving assessments of penalties or late fees against borrowers with disaster-damaged homes; and
• Not reporting forbearance or delinquencies caused by the disaster to the nation’s credit bureaus.

For more information, visit www.freddiemac.com.

Want instant access to great articles like this for your blog or newsletter? Check out our 30-day FREE trial of REsource Licensed Real Estate Content Solutions. Need easy stay-in-touch e-Marketing solutions too? Try Pop-a-Note for 99 cents!
Join RISMedia on Twitter and Facebook to connect with us and share your thoughts on this and other topics.




Copyright© 2014 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com