Freddie Mac Borrowers Affected By Hurricane Isaac Will Be Extended Mortgage Relief

By Sari R. Updated on 9/4/2012

 

Freddie Mac is extending relief to homeowners who suffered damage as a result of Hurricane Isaac.  The relief is only being extended to homeowners who live in Mississippi and Louisiana and are located in Major Disaster Areas.

The agency is providing a full range of mortgage relief options.  One possible option for affected borrowers is forbearance on mortgage payments for up to a year, as determined on a case-by-case basis.  Two other possible options are suspending foreclosure for up to 12 months and waiving penalties/late fees against borrowers with damaged homes.

Homeowners who have been affected by Hurricane Isaac should contact Freddie Mac at 800-Freddie or their mortgage servicer to inquire about general disaster relief policies.