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MCLEAN, Va., March 27, 2019 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today reminded mortgage servicers of its disaster relief policies for borrowers who have been affected by the spring flooding in the Midwest. Freddie Mac's disaster relief options are available to borrowers whose homes or places of employment are located in presidentially-declared Major Disaster Areas where federal individual assistance programs are made available to affected individuals and households.
In areas where the Federal Emergency Management Agency (FEMA) has not yet made individual assistance available, mortgage servicers may immediately leverage Freddie Mac’s short-term forbearance programs to provide mortgage relief to their borrowers that have been affected by the flooding.
“We stand ready to ensure mortgage relief is made available to those affected by the spring season floods,” said Yvette Gilmore, Freddie Mac’s Vice President of Single-Family Servicer Performance Management. “Once safely out of harm’s way, we strongly encourage homeowners whose homes or places of employment have been impacted by the flooding to call their mortgage servicer—the company to which borrowers send their monthly mortgage payments—to learn about available relief options.”
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we've made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors and taxpayers. Learn more at FreddieMac.com, @FreddieMac and Freddie Mac's blog.
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