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Freddie Mac Announces Wildfire Forbearance Policy
Wednesday, August 8, 2018
Some are saying that 2018 may be the worst year in
history for wildfires in California and other states are threatened by blazes
as well so Freddie Mac is reaffirming its disaster relief policies. The policies apply to borrowers with homes in Federal
Emergency Management Agency (FEMA)-declared disaster areas where individual
assistance programs have been made available to affected individuals and
households. The options include suspending foreclosures by providing
forbearance for up to 12 months and waiving penalties or late fees for
borrowers with disaster damaged homes.
Areas with FEMA programs are listed on FEMA's website.
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