WASHINGTON, August 30, 2021 / PRNewswire / – Fannie Mae (OTCQB: FNMA) reminds Hurricane Ida victims of available mortgage and disaster relief options. According to Fannie Mae’s guidelines for disaster-hit single family mortgages:
- Homeowners can request mortgage assistance by contacting their mortgage employee after the disaster.
- Mortgage Services have the right to offer a grace period of up to 90 days – even without making contact – if the service provider believes the homeowner has suffered a disaster.
- Homeowners affected by a natural disaster often have the power to reduce or suspend mortgage payments for up to 12 months.
- During this temporary payment interruption:
- Homeowners won’t incur late fees
- Foreclosure and other litigation suspended
- There are a number of options that can potentially help homeowners catch up on lost payments, including: Deferral of payment in case of natural disasters
In addition, homeowners currently participating in a COVID-19 abstinence plan who were subsequently hit by the hurricane should contact their mortgage agent to discuss options.
Fannie Mae also offers assistance in navigating the broader financial impact of the disaster to Fannie Mae-owned homeowners and tenants living in Fannie Mae-funded properties through its Disaster Response Network *, including:
- Needs assessment and customized recovery plan
- Help requesting financial assistance from FEMA, insurance and other sources
- Online resources and ongoing guidance from experienced disaster relief consultants
Homeowners and renters can call 877-833-1746 for free access to Fannie Mae’s Disaster Response Network ™ * or other available resources.
“We urge everyone who gets in the way of the hurricane to focus on their safety,” said Cindy Danko, Vice President of Individual Family Risk Management, Fannie Mae. “Fannie Mae is committed to making assistance available to homeowners and renters in need, and we urge residents affected by the storm to seek help as soon as possible.”
* Managed by Clearpoint Credit Counseling Solutions, a division of MMI, as part of the Project Porchlight program
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