- Automatically suspend for 90-days evictions and foreclosure sales for borrowers with homes secured by Freddie Mac owned-or guaranteed mortgages and located in eligible disaster areas borrowers are still encouraged to contact their servicers to discuss their situation. Freddie Mac disaster policies enable servicers to extend forbearance and repayment plans for up to 12 months on a case-by-case basis without prior Freddie Mac approval.
- Authorize servicers to verbally grant 90-day forbearances to all borrowers in eligible disaster areas, including borrowers with mortgages modified under the Home Affordable Modification Program (HAMP) or who are currently in a HAMP or Standard Modification Trial Period Plan.
- Expedite the distribution of insurance proceeds on storm damage claims to speed up repairs of storm-damaged homes.
Freddie Mac Suspends All Evictions, Foreclosures In Hurricane Sandy Major Disaster Areas
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