Freddie Mac Extends Mortgage Relief to Borrowers Affected by Hurricane Dennis
13 Juli 2005 - 9:55PM
PR Newswire (US)
Freddie Mac Extends Mortgage Relief to Borrowers Affected by
Hurricane Dennis MCLEAN, Va., July 13 /PRNewswire/ -- Freddie Mac's
full menu of relief policies for borrowers affected by disasters is
being extended to families whose homes were damaged or destroyed by
Hurricane Dennis, Freddie Mac announced today. Freddie Mac is one
of the nation's largest investors in residential mortgages.
"Freddie Mac and the nation's mortgage servicers are working
together to bring some measure of financial relief to homeowners
affected by Hurricane Dennis," said Ingrid Beckles, vice president
of default asset management at Freddie Mac. "Borrowers affected by
Hurricane Dennis can contact their mortgage servicers for mortgage
relief if their homes have been damaged or destroyed." Freddie Mac
s strongly encourages servicers to extend several other measures to
help affected borrowers with Freddie Mac-owned loans: * Expediting
the release of insurance proceeds to help borrowers secure
materials, labor and other resources to repair their homes; *
Waiving assessments of penalties or late fees against borrowers
with disaster-damaged homes; and, * Not reporting forbearance or
delinquencies caused by the disaster to the nation's credit
bureaus. For more information on mortgage payment relief, borrowers
should immediately contact their mortgage servicer -- the company
to which they send their monthly mortgage payment -- or call
Freddie Mac at (800) FREDDIE. Freddie Mac disaster relief policies
can be found at http://www.freddiemac.com/singlefamily/relief.html.
Freddie Mac is a stockholder-owned company established by Congress
in 1970 to support homeownership and rental housing. Freddie Mac
fulfills its mission by purchasing residential mortgages and
mortgage-related securities, which it finances primarily by issuing
mortgage-related securities and debt instruments in the capital
markets. Over the years, Freddie Mac has made home possible for one
in six homebuyers and more than two million renters in America.
(For more information about Freddie Mac, visit
http://www.freddiemac.com/.) DATASOURCE: Freddie Mac CONTACT: Brad
German of Freddie Mac, +1-703-903-2437 Web site:
http://www.freddiemac.com/ x
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