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News for Real Estate Investors and Landlords — tornadoes

Mortgage Assistance After Tornadoes

Posted by 15789465 on

If you are in a tornado-affected area, please contact your lender immediately regarding any available assistance. Some lenders have halted all foreclosures and evictions across the board for a certain period of time. Others make decisions on a case-by-case basis. Here's what I know so far: Freddie Mac: forbearance on mortgage payments for up to one year, determined in a case-by-case basis. Quoting from Housing Wire reporter Jon Prior: "Freddie Mac said the assistance will be determined on a loan-by-loan basis. The government-sponsored enterprise also urged servicers to suspend foreclosure and eviction proceedings for up to one year, waive late...

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