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Article: Fannie Mae Announces Mortgage Relief for Hurricane Charley Victims.
- Article from:
- PR Newswire
- Article date:
- August 16, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WASHINGTON, Aug. 16 /PRNewswire/ -- Fannie Mae , the nation's largest source of financing for home mortgages, has mortgage relief provisions in place for Florida borrowers facing hardships as a result of widespread flooding and damage caused by Hurricane Charley.
Fannie Mae's disaster relief provisions give lenders the discretion to help borrowers in several ways, including suspending mortgage payments for up to three months, reducing the payments for up to 18 months, or in more special cases, creating longer loan payback plans. All changes will be made on a case-by-case basis.
"We need to provide assistance quickly to those who are hardest hit by the ...