Freddie Mac, Fannie Mae Announce Relief for Gulf Coast

Both Freddie Mac and Fannie Mae announced that servicers may grant relief to Gulf Coast borrowers unable to pay their loans because of the current oil spill's impact on their incomes.


Freddie Mac's forbearance policies give servicers the discretion to suspend a borrower's mortgage payments for up to three months or reduce payments for up to six months. Servicers may recommend forbearance for up to twelve months, based on the borrower's individual circumstances.

"Freddie Mac and the nation's mortgage servicers will work together to advance available mortgage relief to homeowners affected by the Deep water Horizon oil spill," said Freddie Mac Senior Vice President of Default Asset Management Ingrid Beckles. "We are instructing our servicers to work with borrowers with Freddie Mac-owned mortgages to extend forbearance of mortgage payments where appropriate to help them stay in their homes as they navigate through this financial hardship."

Under Freddie Mac's requirements servicers must not accrue or collect late charges from the borrower during a short-term forbearance or any subsequent repayment plan period if the borrower is paying according to the forbearance agreement.

Finding the right place just got easier!

Are you ready to start the search for your new home? I have just the place!
If you’re like most homebuyers today, you’ll want to spend some time researching homes on the Internet before you’re ready to start touring homes.

As I recently shared with you, I made the move to Keller Williams Realty and with that move, my Website was upgraded for buyers just like you. Check it out for yourself: Click Here. You can search through thousands of homes and filter them according to your specific needs – it’s really fun and easy to use!

And, as always, I’m here to provide you with more detailed information about neighborhoods, local home values or details on any of the homes that might catch your eye. Plus, I always have access to the newest homes for sale, often before they even go on the market!

Please let me know when you’re ready to take the next step toward buying your next home!

Call me @ 832-647-1769 Today!

Hurricane Season Is Here...Check Your Insurance Before Disaster Strikes

Tornados, hurricanes and floods, oh my! We have already seen coverage on the news about tornados and floods, and the experts are predicting this to be a busy hurricane season. Make sure you have your house in order.

Mother Nature often acts less like a mother and more like a destructive force. That’s why there’s homeowner’s insurance.

Here are a few suggestions offered by insurance agents and financial consultants about homeowner’s insurance:

Insurance companies will tailor coverage based on your needs. But make sure your home is insured for at least 100% of its estimated replacement cost. Replacement cost is the rebuilding cost necessary to repair or replace the entire home. It is not just the market value of the home, which is the amount a buyer would pay for the home, including land. To determine the amount of coverage you’ll need, get an estimate of the replacement cost of your house.

Once you have a replacement estimate, ask your agent if your policy includes an automatic inflation adjustment. This protection will adjust your premium to increase coverage in line with construction costs in your area.

Don’t let natural disasters make you a victim. Schedule an appointment with your insurance agent to talk about your individual needs.

Need a referral for a great insurance agent? Give The Newlywed Real Estate Agent a call @ 832-647-1769.