If you have a mortgage and were impacted by Hurricanes Helene or Milton, you might be eligible for mortgage relief such as forbearance. Here’s what to know.
Mortgage relief after Hurricanes Helene and Milton
Your mortgage servicer is the company you make your monthly payments to, and might or might not be the same as the lender you applied with to get the loan.
Once you’re safe, contact your servicer as soon as possible to learn about assistance or relief options. This could include forbearance — a temporary pause in payments during which you won’t have to pay late fees or risk foreclosure — for up to 12 months. You might learn that your servicer proactively extended you forbearance if your home was in an affected area.
In either case, do not stop making payments without contacting your servicer. Without a forbearance agreement in place, your credit will suffer.
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What if you were buying or selling a home?
If you were in the process of buying or selling a home, review your purchase agreement. If you’re the buyer, you might be able to get your earnest money refunded.
You might have already heard from your real estate agent, loan officer or settlement agent regarding closing delays or cancellations. The sale might be off if the property were damaged, for example, or the closing date could be delayed if there’s a power outage, a hold on new homeowners insurance policies or office closures.
Be wary of scammers in these interactions — they often act in the wake of natural disaster. If you receive an email from your settlement agent, call the agent first to confirm the email is legitimate. Do not wire any funds without taking this step.
What to do if you lost mortgage documents
If you lost mortgage documents in a disaster and don’t have a digital record, contact your mortgage servicer to request copies. For documents like your house deed, you might need to reach out to your county assessor’s office or deed registry. For homeowners insurance policies, contact your insurance provider directly.
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