Are you a reverse mortgage borrower whose home was impacted by Hurricane Harvey or Irma?

Follow this guidance for communicating with your mortgage company:


Contact your insurance company right away to file a claim if damage has occurred to your home;

After that, contact your loan servicer to inform them if damage has occurred to your home - your loan servicer's contact information is on your mortgage statement; and

Depending on the severity of the damage, and the amount of funds issued by your insurance company, it may be necessary for the servicer to hold the insurance funds, monitor the progress of the repairs, and disburse out to the contractor (similar to a repair set aside) after an inspection has been completed on the home.

If you had damage and need to move out of your property, update your contact information with your servicer and provide an alternate contact in the event that your servicer has difficulty reaching you.

If you had no damage, but you are going to be away from your home for a prolonged period of time, let your servicer know. 

If you are having difficulty contacting your mortgage servicer, contact the Homeowner’s HOPE Hotline at 1-888-995-HOPE (4673) for assistance and FREE confidential support from a HUD-approved housing counselor.‚Äč

On August 28, the Department of Housing and Urban Development provided disaster relief for Hurricane Harvey victims and on September 13, provided relief to those impacted by Irma. The relief includes  a 90-day moratorium on foreclosures of FHA-insured mortgages. Learn more on HUD's webpage: Disaster Relief Options for FHA Homeowners

Click Here for information about Mortgage Assistance Centers in Houston and FREE events on September 26th, 27th, 28th and October 3rd ,4th, and 5th.


 

 

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