Federally-backed mortgage loan workout options available to borrowers impacted by declared disasters typically involve temporary suspensions of mortgage payments (forbearance) followed by a formalized plan to bring the loan current. These workout... Read more »
Temporary suspension of loan payments granted to borrowers affected by declared disasters constitutes a critical form of financial relief. For example, following a hurricane, individuals experiencing property damage or job loss might... Read more »
Temporary postponement of loan payments granted to borrowers affected by declared disasters provides immediate financial relief. For example, following a hurricane, homeowners struggling with property damage and lost income may receive a... Read more »