If your home was damaged by Hurricane Sandy, and you have not contacted your mortgage company about your mortgage payments, do so right away. HUD has announced that they are extending foreclosure relief to Sandy victims. Sandy victims may also be eligible for forbearance, loan modifications, or waived late-payment charges.
“Given the magnitude of this disaster, extending the moratorium on foreclosures and evictions will allow home owners in the affected areas, and their servicers, the time needed to assess individual circumstances and options,” says Edward J. DeMarco, FHFA’s acting director.
Whether you are in good standing with your mortgage company, in foreclosure, working to remodify, etc., give them a call and discuss your options. They are extending many different options in order to ease some of your struggle since this tragic storm hit us. “It’s all too clear that families need more time to get back on their feet without having a foreclosure or eviction hanging over their heads,” says Shaun Donovan, HUD Secretary. “As we work to rebuild after this historic storm, we’ll do everything we can to ease the crushing burden being faced by those home owners, many of whom have been forced from their homes.”