Freddie Offers Mortgage Relief

Freddie Mac has announced that families whose homes have been damaged or destroyed by Hurricane Dennis can seek mortgage relief aimed at protecting their credit ratings and financial interests in their homes.Freddie Mac said it is encouraging its servicers to provide borrowers with relief through the company's disaster relief guidelines, and advised affected homeowners to contact their mortgage servicers. The government-sponsored enterprise said it also "strongly encourages" servicers to expedite the release of insurance proceeds to help borrowers obtain materials and labor to repair their homes; to waive the assessment of penalties or late fees; and not to report forbearance or delinquencies caused by the hurricane to credit bureaus. Freddie Mac's disaster relief policies can be found at http://www.freddiemac.com/singlefamily/relief.html.