The Fannie Mae Mortgage Help Center [1] (MHC) in Philadelphia was closed for two days due to Hurricane Sandy. When reopened, its housing advisors quickly reached out to existing customers. “We wanted to assess their situation and when appropriate tell them about our forbearance update [2], which can suspend or reduce mortgage payments for up to 12 months for homeowners in a FEMA declared disaster area,” explains Gordon Clinkscale, the Center’s manager.
According to Erich Ludwig, Fannie Mae’s Eastern region MHC manager, forbearance is the number one topic at all Fannie Mae Mortgage Help Centers this week. “Callers are very relieved to hear about this opportunity, which not only suspends payments but directs servicers to waive late fees and credit bureau reporting during the forbearance period.”
Homeowners with Fannie Mae loans [3] who might qualify for this program, or other disaster relief options from Fannie Mae, should contact their mortgage company. If you do not have access to your financial and mortgage records, call Fannie Mae 1-800-7FANNIE (1-800-732-6643).
Beware of Scammers!
Homeowners in disaster areas should also be wary of scam artists. Warns Ludwig: “Before releasing your personal information or paying upfront for any materials or service, confirm that you are working with a legitimate company. And if it sounds too good to be true, it probably is.”
For more tips on how to avoid scams, visit here [4].
Links:
[1] http://www.knowyouroptions.com/find-resources/mortgage-assistance/fannie-mae-mortgage-help-centers
[2] http://www.knowyouroptions.com/relief
[3] http://www.knowyouroptions.com/loanlookup
[4] http://www.knowyouroptions.com/find-resources/information-and-tools/beware-of-scams