To help you get answers to your hurricane-related questions, we've compiled a list of answers to frequently asked questions as a result of the recent hurricanes.
If your home or place of employment has been impacted by a recent hurricane(s) and your mortgage is owned by Freddie Mac, contact your mortgage company to discuss your mortgage relief options.
Your mortgage company is authorized to initially suspend your mortgage payments (called a "forbearance") for 90 days and this may be extended up to 12 months, or longer, as needed. Please remember to stay in contact with your mortgage company to ensure you receive the right length of forbearance for your situation.
A forbearance is intended for families facing a short-term hardship to allow them to get back on their feet. A forbearance temporarily reduces or suspends your mortgage payments initially for 90 days, and, if necessary, up to 12 months or longer. During a forbearance period, your mortgage company may not assess late fees and any/all credit activity will not be reported to the credit bureaus.
If your home or place of employment is located in a federally declared disaster area that's been identified by FEMA as being eligible for individual assistance and Freddie Mac owns your mortgage, you are eligible for mortgage relief that will allow you to suspend your mortgage payments for up to 12 months. If your home or place of employment is not located in a federally declared disaster area, but you have been impacted by a storm or disaster, please contact your mortgage company as you may be eligible for our standard assistance options, which include forbearance.
As the end of your forbearance period approaches, your mortgage company will work with you to determine the most appropriate option for which you are eligible, including:
These options allow you to re-establish your mortgage payments when your financial situation has stabilized. Please talk with your mortgage company about your best option about one-month before the end of your forbearance period.
There are many organizations you can contact to help you with your recovery, including the Homeowner's HOPE hotline at 1888-HOPE.
You can apply for FEMA assistance https://www.disasterassistance.gov/.
Follow our 2017 Hurricane Help blog series, for important information that you need to get help.