FINANCIAL HURRICANE TIP: If you Live in a Federally declared disaster area (State of Florida), if you have a Mortgage, your Mortgage Holder is required by Federal Law to give you a 3 month Forbearance on your Mortgage Payments at no cost and no credit implications, if requested. The 3 months are added to the back end of the loan extending the term 3 months. The Lender is required by Federal Law to give you this Forbearance if REQUESTED. Call your Lender now, no cost, no credit implications!!! Great way to reduced the Financial strain heaped upon us by Irma!!!"
There are several workout options available to eligible borrowers’ affected by natural disaster. Freddie, Fannie and Ginnie Mae have their own set of disaster relief guidelines that all mortgage servicers adhere to.
Loss of income, job loss, personal injury or an inhabitable property are some of the reasons that make the borrowers eligible for the disaster relief. In addition, Mortgage servicers will be able to guide the borrower to all local agencies that offer disaster assistance.