Freddie Mac offers disaster relief for flood victims
- April 21, 2010
McLean-based Freddie Mac is offering mortgage help to families whose homes were affected by the recent floods in Rhode Island, Massachusetts, New Jersey and West Virginia.
Freddie Mac says it is working with mortgage servicers to offer relief programs for borrowers of Freddie-owned loans.
The company is encouraging servicers to:
-waive penalties or late fees against borrowers with damaged homes
-not send forbearance or delinquencies caused by the disaster to credit bureaus
-stop foreclosure and eviction proceedings for up to 12 month s .
For more information, affected homeowners should contact their mortgage service provider or can call (800)-FREDDIE.