Freddie Mac Announces Help for Homeowners Hit by Hurricance Sandy

Homeowners with Freddie Mac mortgages will get some help if their homes were damaged or destroyed by Monday's massive storm.  The company announced on Tuesday that it is making its full range of disaster relief services to these homeowners as long as they are in jurisdictions that have been declared major disaster areas by the President and where he has made federal Individual Assistance Programs available.

Freddie Mac's disaster relief policies permit its servicers to help affected borrowers with Freddie Mac-owned loans by suspending foreclosure and eviction proceedings for up to 12 months, waiving penalties or late fees, and not reporting delinquencies or forbearance to credit bureaus.

Homeowners in need of disaster relief and who qualify according to the above should contact their servicers or call Freddie Mac at 800-Freddie.