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Mortgage Blog

Disaster victims may find mortgage relief

December 18th, 2012 8:36 AM by Michael and Jill Kohler

The impact of the weather on our mortgage loans:

For homeowners hit hard by Hurricane Sandy, government agencies as well as many major banking lenders are offering breaks on mortgage payments.

Some borrowers with loans backed by Freddie Mac will be able to delay their mortgage payments for up to one year, according to spokeswoman Tracy Mooney.

Freddie's servicers can offer forbearance of up to 90 days on the basis of nothing more than a phone call from the homeowner. For help beyond that time frame, borrowers will have to document their losses with insurance claims, photos of damage, contractor's bills or other proof.

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Posted in:General
Posted by Michael and Jill Kohler on December 18th, 2012 8:36 AM

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