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Article: Fannie Mae Announces Mortgage Relief for Flood Victims in North Dakota, South Dakota, and Minnesota; Fannie Mae Foundation Announces $100,000 in Grants for Flood Recovery and Rebuilding Efforts
- Article from:
- PR Newswire
- Article date:
- April 23, 1997
CopyrightCOPYRIGHT 1997 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, April 23 /PRNewswire/ -- Fannie Mae (NYSE: FNM), the nation's largest source of home mortgage funds, today announced it has mortgage relief provisions in place for borrowers facing hardships resulting from the recent severe floods in North Dakota, South Dakota, and Minnesota. In addition, the Fannie Mae Foundation announced its commitment to award $100,000 in grants to four area nonprofit organizations in North Dakota, South Dakota, and Minnesota.
Fannie Mae's mortgage relief provisions give mortgage servicers the discretion to help borrowers in several ways, including suspending mortgage payments for up to three months, reducing the payments for ...