Fannie Mae has been reminding homeowners and renters impacted by natural disasters, including those affected by Hurricane Milton, of available mortgage assistance and disaster relief options.

Mortgage servicers also were reminded of options to assist homeowners under Fannie Mae’s guidelines during these circumstances, Fannie Mae said in a press release.

“This is a devastating time for many homeowners and renters impacted by Hurricane Milton, especially as some are still feeling the impacts of Hurricane Helene,” Cyndi Danko, senior vice president and chief credit officer, single-family, Fannie Mae, said in the release. “Once recovery efforts begin, we encourage homeowners experiencing hardship because of the storm(s) to contact their mortgage servicer about payment relief options as soon as possible. Homeowners and renters alike can learn more about disaster relief resources, including personalized support, by contacting Fannie Mae’s free disaster recovery counseling services.”

Under Fannie Mae’s guidelines for single-family mortgages impacted by a disaster:

• Homeowners may request mortgage assistance by contacting their mortgage servicer (the company listed on their mortgage statement) following a disaster.
• Homeowners affected by a disaster are often eligible to reduce or suspend their mortgage payments for up to 12 months by entering into a forbearance plan with their mortgage servicer. During this temporary reduction or pause in payments, homeowners will not incur late fees, and foreclosure along with other legal proceedings are suspended.
• In instances where contact with the homeowner has not been established, mortgage servicers are authorized to offer a forbearance plan for up to 90 days if the servicer believes the home was affected by a disaster.

Homeowners and renters should call 855-HERE2HELP (855-437-3243) to access Fannie Mae’s disaster recovery counseling or visit the Fannie Mae website for more information.

In addition, homeowners on a COVID-19-related forbearance plan who are subsequently impacted by a disaster may still be eligible for assistance and should contact their mortgage servicer to discuss options.