Freddie Mac Confirms Disaster Relief Policies Amid California Wildfires
Oct 13, 2017
OTC Disclosure News Service
– Freddie Mac Confirms Disaster Relief Policies Amid California Wildfires
MCLEAN, VA–(Marketwired – Oct 13, 2017) – Freddie Mac (OTCQB: FMCC) reliable currently a disaster service policies for people whose homes or places of practice have been impacted amid a wildfires in California.
Freddie Mac’s disaster service options are permitted to borrowers with homes in presidentially-declared Major Disaster Areas where sovereign Individual Assistance programs are done permitted to influenced people and households. In areas where a Federal Emergency Management Agency (FEMA) has not done Individual Assistance available, servicers might precedence Freddie Mac’s patience programs to yield evident debt service to borrowers influenced by a fires.
“Once they’re in a protected place, we strongly inspire borrowers whose homes or businesses are being impacted by a California wildfires to call their debt servicer,” pronounced Yvette Gilmore, Freddie Mac’s Vice President of Single-Family Servicer Performance Management. “Relief — including patience on debt payments for adult to one year — might be permitted if their debt is owned or guaranteed by Freddie Mac.”
News Facts:
- Freddie Mac disaster service policies sanction debt servicers to assistance influenced borrowers in presidentially announced Major Disaster Areas where sovereign Individual Assistance programs have been extended. A list of these areas can be found during http://www.fema.gov/disasters.
- Freddie Mac debt service options for influenced borrowers in these areas include:
- Suspending foreclosures by providing patience for adult to 12 months;
- Waiving assessments of penalties or late fees opposite borrowers with disaster-damaged homes; and
- Not stating patience or delinquencies caused by a disaster to a nation’s credit bureaus.
- Freddie Mac is reminding servicers to cruise borrowers who work in authorised disaster areas though have homes in unblushing areas for Freddie Mac’s customary service policies, that embody patience or debt modifications.
- Affected borrowers should immediately hit their debt servicer — a association to that they send their monthly debt payment.
- See http://www.freddiemac.com/singlefamily/service for a outline of Freddie Mac disaster service policies.
Freddie Mac creates home probable for millions of families and people by providing debt collateral to lenders. Since a origination by Congress in 1970, we’ve done housing some-more permitted and affordable for homebuyers and renters in communities nationwide. We are building a improved housing financial complement for homebuyers, renters, lenders and taxpayers. Learn some-more during FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog.
MEDIA CONTACT:
Chad Wandler
703-903-2446
Chad_Wandler@FreddieMac.com
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