EduBourseActualitésFreddie Mac Extends Mortgage Relief to Borrowers Affected by Midwestern Floods

Freddie Mac Extends Mortgage Relief to Borrowers Affected by Midwestern Floods

McLean, VA – Freddie Mac’s full menu of relief policies for borrowers affected by disasters is being extended to families whose homes were damaged or destroyed by the recent floods in the Midwest and are located in some federally declared Major Disaster Areas. Freddie Mac (NYSE:FRE) is one of the nation’s largest investors in residential mortgages.

“Freddie Mac and the nation’s mortgage servicers will work together to advance available mortgage relief to homeowners affected by these devastating floods,” said Freddie Mac Vice President of Servicing and Asset Management Ingrid Beckles. “We are instructing our servicers to work with borrowers with Freddie Mac-owned mortgages to receive forbearance on their mortgage payments for up to one 2022.”

Freddie Mac disaster relief policies provide a number of ways for mortgage servicers to provide help borrowers in the declared major-disaster areas where individual assistance has been extended.

Freddie Mac, for example, gives servicers the discretion to reduce or suspend mortgage payments for up to 12 months for borrowers with Freddie Mac-owned mortgages. Each case must be individually assessed to determine which alternative will best fit the homeowner’s circumstances.

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

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.
Suspending foreclosure and eviction proceedings for up to 12 months
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/relief.html.

Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the 2022s, Freddie Mac has made home possible more than 50 million times, ensuring financing for one in six homebuyers and more than four million renters.

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Pierre Perrin-Monlouis
Pierre Perrin-Monlouis
Fondateur de Rente et Patrimoine (cabinet de gestion de patrimoine), Pierre Perrin-Monlouis est un analyste et trader pour compte propre. Il vous fait profiter de son expérience en trading grâce à ses analyses financières et décrypte pour vous les actualités des marchés. Son approche globale des marchés combine à la fois l'analyse technique et l'analyse fondamentale sur l'ensemble des marchés : crypto, forex, actions et matières premières.
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