If you're a homeowner whose home or place of employment has been impacted by the historic 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 impacted borrowers.
- Suspend reporting forbearance or delinquencies caused by the disaster to the nation's credit bureaus.
Homeowners facing hardships unrelated to the wildfires or who live and work outside of a Major Disaster Area where federal Individual Assistance programs have been extended 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.
Learn more in our blog posts about what to do and who to contact when you are facing a natural disaster.