October 13, 2017

Mortgage Relief Amid California Wildfires

If you're a homeowner whose home or place of employment has been impacted by the wildfires in California 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 forbearance or delinquencies caused by the disaster to the nation's credit bureaus.

Homeowners facing hardships unrelated to the wildfires 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 follow our blog series, bringing you important information that's relevant to the recent natural disasters.