Freddie Mac has announced that its disaster relief options are available to homeowners in Puerto Rico and the U.S. Virgin Islands who have been impacted by Hurricane Maria.
If you are a homeowner whose home or place of employment has been impacted by Hurricane Maria and your mortgage is owned by Freddie Mac, contact your mortgage company right away to discuss your mortgage relief options.
In Major Disaster Areas where federal Individual Assistance programs have been extended, your mortgage company is authorized to:
- Suspend mortgage payments for up to 12 months.
- Waive assessments of penalties or late fees against borrowers with disaster–damaged homes.
- Suspend reporting mortgage loan delinquencies caused by the disaster to the nation's credit bureaus.
Homeowners suffering from hardships unrelated to Hurricane Maria may be eligible for Freddie Mac's standard relief options such as 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.
Please continue to follow our 2017 Hurricane Help blog series for important information you need to get help.
Have a comment or question about this post? Email us to let us know what's on your mind.