The State of Florida has been declared a Disaster Area by the Federal Government.
If you have a mortgage on your home, your lender is required by law to give you a three month Forbearance on your mortgage payments with no cost implications or negative affects on your credit report. This is required by Federal Law.
A three month break from making mortgage payments could really help reduce the financial disruption caused by hurricane Irma. In cases where there is damage to the home the forebearance could be for up to a year so your mortgage payments can be diverted to make the necessary repairs.
You must call your lender and request this forbearance
Although they aren't required to, many banks are also eliminating fees for things like overdrafts or allowing borrowers to skip payments for other loans like car payments and credit cards. Check with your lender if hurricane Irma has put you in a financial pinch and see what they can do for you.
Those having trouble contacting the servicer can call 1-888-995-HOPE (4673) for assistance.
Homeowners with Fannie Mae Loans can call 1-800-2FANNIE (1-800-232-6643) for more information.
Owners with Freddie Mac loans can call 1-800-373-3343 and select option 2.
Information also is available for homeowners at FEMA.gov, HUD.gov and RedCross.org
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