If your home or place of employment has been impacted by a natural disaster, contact your loan servicer (the company listed on your mortgage statement) right away to discuss mortgage relief options that may be available to you.
When disaster strikes and causes extensive damage, the President of the United States may issue a Major Disaster Declaration for certain areas and authorize federal Individual Assistance programs for affected individuals and households. A list of these areas can be found on FEMA’s Disaster Declarations website.
If your home or place of employment is in a major disaster area where individual assistance has been authorized and your loan is owned by Freddie Mac, your loan servicer may be able to extend a full range of relief options, including:
- Suspending foreclosures by providing forbearance on your mortgage payments for up to 12 months
- Waiving assessments of penalties or late fees against borrowers with disaster-damaged homes.
- Not reporting forbearance or delinquencies caused by the disaster to the nation's credit bureaus.
If you’ve been impacted by a disaster – even if you live and work outside of an eligible FEMA disaster area – call your mortgage company for help right away.
Check out our answers to some of the most frequently asked questions about disaster relief and assistance programs to jumpstart your recovery.