Freddie Mac Supports Our Nation's Service Members
Freddie Mac offers a variety of specialized programs to help meet the needs of American service members, veterans, and their families.
Each November on Veterans Day, Americans remember and recognize the many sacrifices made by our Nation's service members – active duty, reservists, and veterans. This is when we formally thank those brave women and men for their role in protecting our country and helping ensure the freedoms that we enjoy every day.
Freddie Mac offers several programs designed to meet the special needs of our service members. Many are geared towards housing. Others are focused on financial literacy, providing business opportunities, or supporting non-profits that help service members, veterans, and their families.
"We can all appreciate the sacrifices made by our nation’s service members and their families,” said Dwight Robinson, SVP of Outreach, Diversity, and Human Resources. “We, as a company, are doing what we can to support them and the extraordinary challenges that impact their housing and financial well-being.”
We have adapted several policies and developed new methods to help service members purchase homes and avoid foreclosure, including:
- More flexible credit parameters for teachers, firefighters, law enforcement officers, health care workers, and military personnel through our Home Possible Neighborhood Solution® Mortgage program.
- Service members facing relocation due to a Permanent Change of Station (PCS) order are eligible to be considered for alternative to foreclosure options offered by Freddie Mac, such as a loan modification.
- A dedicated Freddie Mac Military help line, managed by our 1-800-Freddie team, to handle service member phone inquiries.
- Extension of the Servicemembers Civil Relief Act (SCRA) foreclosure protection period and expiration date for service members and surviving spouses.
Additionally, we have made significant efforts to support service members who may be facing financial hardship, including:
- Providing resources to Military Bases that outline alternatives to foreclosure, as well as detailing how members could get additional support.
- Participating in HOPE NOW Alliance events providing financial and housing information to service members and their families.
- Partnering with USA Cares to provide specialized training to housing counselors.
- Providing grants to three non-profits to hire housing counselors who specialize in veterans issues.
These are just some of the ways we’re demonstrating our commitment to service members, veterans, and their families. Learn more about our mortgage relief and workout options available to service members.