Fannie Mae is concerned about homeowners and communities affected by disasters and we’re taking action. Read below to get the help you need.
Fannie Mae works directly with mortgage servicers to offer special options for those impacted by disasters. Eligible homeowners in single-family properties with a Fannie Mae mortgage loan who are experiencing difficulty paying their mortgage may qualify for:
Get Help Now
Beware! Scam artists will attempt to offer assistance and services to support those affected by a disaster. Here are some ways you can protect yourself:
For more tips on how to avoid scams, visit here .
Hurricane Sandy directly hit the Rockaway Park, New York, beachfront on October 30, 2012, tearing up the boardwalk, washing away train tracks and caving in buildings—including the apartment building where Robert, wife Meng, and 3-year-old Jack lived in Apartment 5B.
The family had moved inland during the storm, but returned the next day to find no power or hot water and a lobby submerged in six feet of water. Worse, once the water receded, the lobby had four feet of sand for residents to tackle with shovels and pails. They climbed five flights of stairs to reclaim some belongings and joined the thousands of displaced families looking for nearby rental housing.
The family received a letter from Fannie Mae’s Borrower Outreach Team about a mortgage assistance event in Rockaway for homeowners affected by Hurricane Sandy. Although they could not attend, they called the number on the letter on January 30 and were connected with Housing Advisor Bernard Francois in Fannie Mae’s Mortgage Help Center  in Miami. “Bernard was amazing,” Meng says, “he explained our options and helped us work with our mortgage company.”
Their case was submitted to their mortgage company on February 12 and they signed an agreement for a 12-month forbearance on April 16.
A forbearance  temporarily suspends or reduces monthly mortgage payments for a specific period of time. After the forbearance period has ended, the homeowner repays the amount that was reduced or suspended. This can be paid as one lump payment, or the mortgage can be modified  and the delinquent payments moved to the end of the mortgage, which lengthens the term of the loan.
In their case, Bernard recommended they pursue a modification at the end of the forbearance period. “This arrangement helps the family stay up-to-date with their mortgage payments while the building is being rehabilitated and they can move back,” explains Angelica Vasquez, the manager of the Miami Mortgage Help Center.
Returning to Normal
Today, the sand is gone, the power has been restored and the elevator is working. If repairs to their apartment stay on schedule, they may be back in by summer. “We’re very thankful for the help we’ve received from Fannie Mae during this difficult time,” says Meng, “we feel blessed to have found Fannie Mae and Bernard Francois.”
Our Commitment to Others
Fannie Mae supports national and local relief efforts following disasters like Hurricane Sandy and the 2013 tornadoes in Oklahoma and Texas through financial contributions (and often matching our employee’s contributions) as well as contributing to relief programs managed by charitable relief organizations. For more information, visit www.fanniemae.com .