Freddie Mac Announces Wildfire Forbearance Policy

Posted To: MND NewsWireSome are saying that 2018 may be the worst year in history for wildfires in California and other states are threatened by blazes as well so Freddie Mac is reaffirming its disaster relief policies. The policies apply to borrowers with homes in Federal Emergency Management Agency (FEMA)-declared disaster areas where individual assistance programs have been made available to affected individuals and households. The options include suspending foreclosures by providing forbearance for up to 12 months and waiving penalties or late fees for borrowers with disaster damaged homes. Areas with FEMA programs are listed on FEMA’s website. Where those FEMA programs are not available, Freddie Mac servicers are empowered to use Freddie Mac’s forbearance programs to provide mortgage relief to borrowers affected…(read more)Forward this article via email:¬†¬†Send a copy of this story to someone you know that may want to read it.

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Michael Ayoub, Author NMLS ID 6631