Federal Housing Finance Agency (FHFA) Director Mel Watt issued a letter on December 1, 2017 addressing concerns about mortgage relief options for homeowners in areas affected by the 2017 hurricanes and wildfires. These include:
- Eligibility to stop making monthly mortgage payments in 3-month intervals for up to 12 months;
- Waiving of late fees and delinquency reports to the credit bureaus;
- No requirement to catch up on missed payments all at one time;
- Longer-term assistance available through modifications of existing mortgages; and
- Suspension of foreclosure sales through December 31st, 2017 in FEMA-declared disaster areas.
Read the FHFA director’s letter addressing these and other provisions at: http://bit.ly/2mq9Qwf