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Fannie Mae's Commitment to Disaster Relief for Wildfire Victims

Fannie Mae, the well-known mortgage company, has taken steps to remind homeowners and renters affected by the recent devastating wildfires in Southern California of the disaster relief options available to them. As natural disasters disrupt communities, Fannie Mae aims to provide crucial support to those in need.

The company's Senior Vice President and Chief Credit Officer, Cyndi Danko, has reiterated the organization's dedication to assist victims during these challenging times. "Our primary focus is to ensure the safety of those in the path of the fires," she stated, emphasizing the importance of reaching out amidst the chaos that such disasters create.

For homeowners and renters grappling with the aftermath of these wildfires, Fannie Mae encourages them to reach out to their mortgage servicer for assistance as soon as possible. Additionally, the company shines a light on the importance of utilizing their resources, including personalized disaster recovery counseling services accessible via the dedicated hotline at 855-HERE2HELP (855-437-3243).

Support Options Available

Fannie Mae has set forth several guidelines under which homeowners can request mortgage assistance after a natural disaster. These options include:

• - Forbearance Plans: Homeowners may be eligible to enter a forbearance plan that allows them to reduce or suspend their mortgage payments for up to twelve months. During this time, no late fees will accrue, and legal actions related to foreclosure will be halted.
• - Emergency Measures for Servicers: Mortgage servicers are authorized to extend a forbearance plan for up to 90 days for homes believed to have been affected by the disaster, even if direct communication with the homeowner hasn't been established.
• - Post-Forbearance Options: After a forbearance plan, various options are available to help homeowners manage delinquent payments. These include Disaster Payment Deferral and modifications to existing loans through Fannie Mae's Flex Modification.

Recovery Counseling Initiatives

Fannie Mae places a strong emphasis on the accessibility of disaster recovery resources. Those seeking to navigate the financial impacts associated with the wildfires can turn to Fannie Mae's website for additional information on immediate support needs.

Moreover, the disaster recovery counseling provided through the hotline is offered free of charge by trained counselors from Money Management International. These experts provide valuable assistance, including:

• - An assessment of individual needs and actionable recovery plans.
• - Help with requests for financial aid from the Federal Emergency Management Agency (FEMA), as well as assistance with insurance claims.
• - Continuous support and guidance for up to 18 months, with resources available in multiple languages.

About Fannie Mae

Fannie Mae is dedicated to advancing equitable and sustainable homeownership opportunities in America. By promoting the 30-year fixed-rate mortgage and integrating innovative practices, the company continues to facilitate accessible home buying and rental options for millions. As they support those affected by calamities like the California wildfires, Fannie Mae remains committed to fulfilling their mission of providing affordable housing solutions.

In conclusion, homeowners and renters impacted by the wildfires in Southern California are urged to utilize Fannie Mae's extensive resources. Reach out for assistance to ensure financial stability and security as communities begin the journey of recovery.