Freddie Mac News Archive:� Freddie Mac Grants Three-Month Suspension of Mortgage Payments for Borrowers Affected by Hurricane Katrina.: "Return of Some September Payments to Cash-Strapped Storm Victims Planned
McLean, VA – Freddie Mac (NYSE:FRE) today announced several special policies intended to put emergency funds in the pockets of single-family mortgage borrowers impacted by Hurricane Katrina.
'We are determined to do all that we can to help the victims of this disaster,' said Freddie Mac Chairman and CEO Richard F. Syron. 'Therefore, we are instructing our servicers to suspend mortgage collections for the months of September, October and November in some of the key major disaster areas designated by the Federal Emergency Management Agency. This temporary suspension will apply to every borrower with a Freddie Mac-owned single family mortgage in these FEMA designated zones, regardless of the condition of their home,' Syron said."
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