Freddie Mac Offers Relief to Borrowers Affected by Dennis

MC LEAN, Va. - Freddie Mac is extending its full menu of relief policies for borrowers affected by disasters to those families whose homes were damaged or destroyed recently by Hurricane Dennis. Freddie Mac VP of Default Asset Management Ingrid Beckles said borrowers affected by Hurricane Dennis can contact their mortgage servicers for mortgage relief if their homes have been damaged or destroyed. They can also call Freddie Mac at (800) FREDDIE. The housing Government Sponsored Enterprise is encouraging servicers to extend several measures to affected borrowers with Freddie Mac-owned loans. Among them are expediting the release of insurance proceeds to help borrowers secure materials, labor and other resources to repair their homes; waiving assessments of penalties or late fees against borrowers with disaster-damaged homes; and not reporting forbearance or delinquencies caused by the disaster to the nation's credit bureaus.