Freddie Mac Servicers to Offer Relief to Isaac Victims

Freddie Mac has authorized its mortgage servicers tornextend all of the company’s mortgage relief options to its borrowers along thernGulf Coast affected by last week’s hurricane. rnHomeowners located in those Louisiana and Mississippi jurisdictions designatedrnby President Obama as Major Disaster Areas are eligible for the assistance ifrntheir homes were damaged by Hurricane Isaac or its resulting floods.</p

Under Freddie Mac’s disaster reliefrnpolicies servicers are authorized to:</p<ul class="unIndentedList"<liSuspend foreclosure and evictionrnproceedings for up to 12 months; </li<liWaive assessments of penalties orrnlate fees against borrowers with disaster-damaged homes; and </li<liSuspend reporting of forbearance orrndelinquencies caused by the disaster to the nation's credit bureaus. </li</ul

“Freddie Mac has authorized thernnation’s mortgage servicers to provide a full range of mortgage relief optionsrnto affected borrowers with mortgages owned or guaranteed by Freddie Mac,”rnsaid Tracy Mooney, Senior Vice President of Single-Family Servicing and RealrnEstate Owned at Freddie Mac. “Forbearance on mortgage payments for up tornone year is one of several options our servicers have been instructed to offerrnborrowers on a case-by-case basis.”</p

For more information on mortgagernpayment relief, homeowners should contact their mortgage servicer – the companyrnto which they send their monthly mortgage payment – or call Freddie Mac atrn800-FREDDIE

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