Disaster Relief and Mortgage Assistance FAQ
May 24, 2022
May 24, 2022
Picking up the pieces after a natural disaster can be overwhelming. If your home is impacted by a natural disaster, it is important to know about mortgage relief options.
Here are answers to some of the most frequently asked questions about disaster relief and mortgage assistance programs.
If your home or place of employment has been impacted by a natural disaster and your mortgage is owned by Freddie Mac, contact your mortgage company to discuss your mortgage relief options.
To find out if your mortgage is owned by Freddie Mac visit, our self-service Loan Look-up Tool to determine if we own your loan.
If your home or place of employment is located in a federally declared disaster area that's been identified by the Federal Emergency Management Agency (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 through forbearance 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 servicer, as you may be eligible for our standard assistance options.
A forbearance is intended to help those facing a short-term hardship to allow them to get back on their feet. A forbearance temporarily reduces or suspends your mortgage payments.
During a forbearance period, your mortgage company may not assess late fees and will not report forbearance or delinquencies caused by the disaster to the credit bureaus.
Your mortgage company is authorized to initially offer a 90-day forbearance plan, and this may be extended up to 12 months. Please remember to stay in contact with your mortgage company to ensure you receive the right length of forbearance for your situation.
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 approximately 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 (888) 995-HOPE.
Freddie Mac has mortgage relief options for those affected by natural disasters. Remember, if you’ve been impacted by a disaster, your first step is to call your lender for help.