Freddie Mac Extends Mortgage Relief To Borrowers Affected By Hurricane Isaac

Freddie Mac Extends Mortgage Relief To Borrowers Affected By Hurricane Isaac

PR Newswire

MCLEAN, Va., Sept. 4, 2012

MCLEAN, Va., Sept. 4, 2012 /PRNewswire/ — Freddie Mac’s (OTC: FMCC) full menu of relief policies for borrowers affected by disaster is being extended to homeowners whose homes were damaged or destroyed by Hurricane Isaac and are located in Louisiana and Mississippi jurisdictions that the President has declared to be Major Disaster Areas and where he has made federal Individual Assistance programs available to affected individuals and households. Freddie Mac is one of the nation’s largest investors in residential mortgages.

“Freddie Mac has authorized the nation’s mortgage servicers to provide a full range of mortgage relief options to affected borrowers with mortgages owned or guaranteed by Freddie Mac,” said Tracy Mooney, Senior Vice President of Single-Family Servicing and Real Estate Owned at Freddie Mac. “Forbearance on mortgage payments for up to one year is one of several options our servicers have been instructed to offer borrowers on a case-by-case basis.”

Freddie Mac disaster relief policies provide a number of ways for mortgage servicers to help affected borrowers in the Major Disaster Areas where federal Individual Assistance programs have been extended.

Freddie Mac strongly encourages servicers to help affected borrowers with Freddie Mac-owned loans by:

  • Suspending foreclosure and eviction proceedings for up to 12 months;
  • Waiving assessments of penalties or late fees against borrowers with disaster-damaged homes; and
  • Not reporting forbearance or delinquencies caused by the disaster to the nation’s credit bureaus.

For more information on mortgage payment relief, homeowners should contact their mortgage servicer – the company to which they send their monthly mortgage payment – or call Freddie Mac at 800-FREDDIE. Freddie Mac’s general disaster relief policies are posted online at http://www.freddiemac.com/singlefamily/service/disastermgmt.html.

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four homebuyers and is one of the largest sources of financing for multifamily housing. www.FreddieMac.com.

SOURCE Freddie Mac

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Comments
4 Responses to “Freddie Mac Extends Mortgage Relief To Borrowers Affected By Hurricane Isaac”
  1. stripes says:

    Deceit to commit robbery is lawlessness. This is how they steal everything from all of us. Deceit always was and remains the real hidden danger. They are masters at creating diversions and distractions. The liars loans, the so-called “crash of the stock market”, FED monetary policy, Fraudclosure, the ongoing bailouts, the passage of the PATRIOT ACT, NDAA, OBAMACARE proves how they prey on our weaknesses. The just “TRUST ME” ideology is a scam…..Don’t trust verify. If you can’t verify, do not trust. How about….SHOW ME PROOF OR FORGET IT…..! Obamacare is one of many examples of deceit under this administration……it is over 1000 pages of mumbo jumbo to cover up for the microchip that is hidden in there. Obama said “trust me ” I will not use NDAA against the people. He re-signed the Patriot Act into law when NO ONE wanted it. Deception is dangerous, it is lawlessness in disguise, and it is everywhere.

  2. see says:

    What is so sad here is people will fall into their trap and not know what hit them.

  3. Sarah says:

    Freddie Mac. Run, do not walk, away. Strange, I thought Freddie Mac was “Frauddie Mac, We Make Stealing Homes Possible”. After reading the above, we could change it to “Freddie Mac We use inclement weather to manipulate the housing market. You will eventually be evicted”

  4. How magnanimous..

    I can just can’t wait till ole’ Freddie starts, pointing to how great they were, by being so “kind” to the same Issac victims they “helped” when they start evicting the same people a couple months from now

    Really, it’s amazing that they truly believe the majority of America has the IQ of a radish,..How long are we going to stand for this

    I ask this question in the same context as our founding fathers..

    What would John Adams, and the rest of the Continental Congress think, seeing how their masterpiece has been spit on and trampled through the mud by the financial industry, just as Jefferson predicted in his letter to the secretary of the treasury.

    “I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”

    Thomas Jefferson, Letter to the Secretary of the Treasury Albert Gallatin 1802 .

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