Freddie Mac Extends 12-Month Mortgage Relief to Los Angeles Wildfire Victims
January 13, 2025
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Freddie Mac (OTCQB: FMCC) has announced mortgage relief options for homeowners affected by wildfires in the Los Angeles area. The company’s forbearance program offers up to 12 months of mortgage relief without late fees or penalties. Affected homeowners with Freddie Mac mortgages can access these disaster relief options if their property experiences an insurable loss or is located in Presidentially-Declared Major Disaster Areas.
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The relief package includes suspension of foreclosure proceedings and multiple options for repayment:
- Lump sum reinstatement (not required)
- Repayment plan with additional monthly payments
- Payment deferral with missed payments added to loan end
- Loan modification for long-term financial hardships
Homeowners are encouraged to contact their mortgage servicers to discuss available options, including those whose employment has been impacted by the disaster.
Freddie Mac (OTCQB: FMCC) ha annunciato opzioni di aiuto per i mutui per i proprietari di casa colpiti dagli incendi nella zona di Los Angeles. Il programma di sospensione dei pagamenti dell’azienda offre fino a 12 mesi di aiuto sui mutui senza spese di mora o penali. I proprietari di casa colpiti con mutui Freddie Mac possono accedere a queste opzioni di aiuto in caso di perdita assicurabile della proprietà o se si trovano in Aree di Grandi Disastri Dichiarate dal Presidente.
Il pacchetto di aiuti include la sospensione delle procedure di sfratto e molteplici opzioni per il rimborso:
- Ripristino in un’unica soluzione (non richiesto)
- Piano di rimborso con pagamenti mensili aggiuntivi
- Rinviare i pagamenti con i pagamenti mancati aggiunti alla fine del prestito
- Modifica del prestito per difficoltà finanziarie a lungo termine
I proprietari di casa sono incoraggiati a contattare i loro gestori dei mutui per discutere delle opzioni disponibili, comprese quelle la cui occupazione è stata colpita dal disastro.
Freddie Mac (OTCQB: FMCC) ha anunciado opciones de alivio hipotecario para los propietarios de vivienda afectados por los incendios forestales en el área de Los Ángeles. El programa de aplazamiento de la empresa ofrece hasta 12 meses de alivio hipotecario sin cargos por pagos atrasados ni penalizaciones. Los propietarios afectados con hipotecas de Freddie Mac pueden acceder a estas opciones de alivio en caso de que su propiedad sufra una pérdida asegurada o se encuentre en Áreas de Desastre Mayor Declaradas por el Presidente.
El paquete de alivio incluye la suspensión de los procedimientos de ejecución hipotecaria y múltiples opciones de reembolso:
- Reinstalación en un solo pago (no requerida)
- Plan de pago con pagos mensuales adicionales
- Diferimiento de pagos con los pagos atrasados añadidos al final del préstamo
- Modificación del préstamo para dificultades financieras a largo plazo
Se alienta a los propietarios a ponerse en contacto con sus servicers hipotecarios para discutir las opciones disponibles, incluidas aquellas cuyos empleos se han visto afectados por el desastre.
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프레디 맥 (OTCQB: FMCC)이 로스앤젤레스 지역에서 산불로 피해를 입은 주택 소유자를 위한 주택담보대출 구제 옵션을 발표했습니다. 이 회사의 유예 프로그램은 연체료나 벌금 없이 최대 12개월의 모기지 구제를 제공합니다. 프레디 맥 모기지를 보유한 피해자들은 자산이 보험 가능한 손실을 입었거나 대통령 선언 주요 재난 지역에 있는 경우 이러한 재난 구제 옵션에 접근할 수 있습니다.
구제 패키지에는 압류 절차 중단과 여러 가지 상환 옵션이 포함됩니다:
- 일시금 재개 (필수 아님)
- 추가 월 상환이 포함된 상환 계획
- 연체된 상환을 대출 종료에 추가하는 지불 유예
- 장기 재정적 어려움에 대한 대출 수정
주택 소유자들은 재난으로 인해 직업에 영향을 받은 사람들을 포함하여 이용 가능한 옵션에 대해 논의할 수 있도록 주택담보대출 서비스 제공자에게 연락할 것을 권장합니다.
Freddie Mac (OTCQB: FMCC) a annoncé des options d’allègement hypothécaire pour les propriétaires touchés par les incendies de forêt dans la région de Los Angeles. Le programme de suspension de l’entreprise offre jusqu’à 12 mois d’allègement hypothécaire sans frais de retard ni pénalités. Les propriétaires touchés ayant des prêts Freddie Mac peuvent bénéficier de ces options d’aide en cas de perte assurable de leur propriété ou s’ils se trouvent dans des zones de catastrophe majeure déclarées par le Président.
Le paquet d’allègement comprend la suspension des procédures d’éviction et plusieurs options de remboursement :
- Restitution en une seule fois (non requise)
- Plan de remboursement avec paiements mensuels supplémentaires
- Différé de paiement avec paiements manquants ajoutés à la fin du prêt
- Modification de prêt pour difficultés financières à long terme
Les propriétaires sont encouragés à contacter leurs servicers hypothécaires pour discuter des options disponibles, y compris ceux dont l’emploi a été impacté par la catastrophe.
Freddie Mac (OTCQB: FMCC) hat Hilfsoptionen für Hypotheken für Hauseigentümer angekündigt, die von den Waldbränden im Raum Los Angeles betroffen sind. Das Stundungsprogramm des Unternehmens bietet bis zu 12 Monate Hypothekenhilfe ohne verspätete Gebühren oder Strafen. Betroffene Hauseigentümer mit Freddie Mac-Hypotheken können auf diese Katastrophenhilfsoptionen zugreifen, wenn ihre Immobilie einen versicherbaren Verlust erleidet oder sich in von Präsidenten erklärten Katastrophengebieten befindet.
Das Hilfspaket umfasst die Aussetzung von Zwangsvollstreckungsverfahren sowie mehrere Rückzahlungsoptionen:
- Einmalige Rück reinstatement (nicht erforderlich)
- Rückzahlungsplan mit zusätzlichen monatlichen Zahlungen
- Zahlungsaufschub mit den versäumten Zahlungen, die am Ende des Kredits hinzugefügt werden
- Kreditmodifikation bei langfristigen finanziellen Schwierigkeiten
Hauseigentümer werden ermutigt, ihre Hypothekendienstleister zu kontaktieren, um die verfügbaren Optionen zu besprechen, einschließlich derjenigen, deren Beschäftigung durch die Katastrophe beeinträchtigt wurde.
Positive
- Offering 12-month mortgage relief without penalties
- Multiple flexible repayment options available
- Suspension of foreclosure proceedings during forbearance
- Relief extends to employment-related financial hardships
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MCLEAN, Va., Jan. 13, 2025 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: FMCC) today is reminding homeowners and mortgage servicers of its immediate relief options for those affected by the tragic wildfires in California. Freddie Mac’s forbearance program provides homeowners mortgage relief for up to 12 months without incurring late fees or penalties.
“The number one priority for those affected by the destruction of these ongoing wildfires is to reach safety,” said Mike Reynolds, Freddie Mac Single-Family Vice President and Head of Servicing. “Once out of harm’s way, we encourage homeowners in these affected areas to contact their mortgage servicer to learn about relief options. Freddie Mac and our partners stand ready to provide immediate assistance and aid in the recovery of families and individuals.”
Freddie Mac’s disaster relief options are available to homeowners with a Freddie Mac mortgage who have been impacted by an eligible disaster. This includes anytime the homeowner’s property experiences an insurable loss, and also covers instances where their homes or places of employment are located in Presidentially-Declared Major Disaster Areas with individual assistance designations. Foreclosure and other legal proceedings are also suspended while homeowners are on a forbearance plan.
Homeowners whose homes are impacted should contact their mortgage servicer—the company they send their monthly mortgage payments to—as soon as possible to talk about available mortgage relief options. This also includes homeowners whose places of employment have been impacted resulting in a financial hardship that prevents them from being able to make their monthly payment.
When they are back on their feet, homeowners have several options to make up the missed payments, including additional forbearance, if needed.
- Reinstatement. The option for a lump sum payment is available, but never required, if the homeowner’s loan is owned by Freddie Mac. If possible, however, it is the fastest way to get back on track.
- Repayment plan. Homeowners pay more each month on top of their existing mortgage payment to make up the missed payments.
- Payment Deferral. This option is available if homeowners can resume making their regular monthly payment. With payment deferral, homeowners become immediately current on their mortgage and missed payments are added to the end of the mortgage term without penalties or additional interest.
- Loan modification. If a homeowner is facing a long-term financial hardship but can make a reduced mortgage payment, a modification may be the best option.
Freddie Mac also reminds servicers that its disaster relief options are available to affected homeowners outside the declared disaster areas if their home incurs a disaster-related insured loss that impacts their ability to make their mortgage payment.
More information is available on My Home by Freddie Mac where owners can read about the steps they can take to help recover from a natural disaster, including frequently asked questions related to disaster and mortgage relief. Freddie Mac also provides dedicated resources to renters in apartment buildings, to help them plan and prepare for natural disasters, as well as respond and recover after they strike.
About Freddie Mac
Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | Twitter | LinkedIn | Facebook | Instagram | YouTube
MEDIA CONTACT: Chad Wandler
703-903-2446
[email protected]
FAQ
What mortgage relief is Freddie Mac (FMCC) offering for LA wildfire victims?
Freddie Mac is offering up to 12 months of mortgage forbearance without late fees or penalties, along with suspension of foreclosure proceedings for affected homeowners.
How can homeowners repay missed payments under FMCC’s wildfire relief program?
Homeowners have four options: lump sum payment (not required), repayment plan with additional monthly payments, payment deferral to the end of the mortgage, or loan modification.
Who qualifies for Freddie Mac’s (FMCC) wildfire disaster relief?
Homeowners with Freddie Mac mortgages whose properties experienced insurable loss or are in Presidentially-Declared Major Disaster Areas qualify, including those whose employment was impacted.
What immediate steps should FMCC mortgage holders take to access wildfire relief?
Affected homeowners should contact their mortgage servicer (the company they send monthly payments to) as soon as possible to discuss available relief options.
Does Freddie Mac’s (FMCC) disaster relief require a lump sum repayment?
No, while lump sum payment is available, it is never required for Freddie Mac-owned loans. Multiple flexible repayment options are available.
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