After their property sustains damage in a storm, homeowners typically face big bills.
Fortunately, some banks may be willing to help. During a disaster like Hurricane Harvey, they may institute a type of forbearance program on any borrowers who are in the disaster’s impacted counties.
One of the nation’s largest mortgage lenders has stated after Hurricane Harvey that it was suspending all negative reporting to credit bureaus, collection calls and foreclosure procedures against customers in the impacted communities at least through the end of September.
Some mortgage lenders are providing relief typically for 60 to 90 days. It has been said that Wells Fargo will offer additional relief on a case-by-case basis.
CALL YOUR BANK TODAY TO SEE IF ANY RELIEF CAN COME YOUR WAY.
Clarity on the “September 1st deadline” previously incorrectly reported. Read the following article which clears up the confusion.
https://www.nytimes.com/2017/08/29/business/texas-damage-claims.html