Disaster Relief and Mortgage Tips
Disasters such as hurricanes, wildfires, and floods can create serious challenges for homeowners. If you’ve been affected, it’s important to know that there are resources available to help you navigate through these difficult times. Here’s what you can do to protect yourself and your home:
Access Mortgage Relief Options
🏠 If you’re struggling to make mortgage payments while dealing with disaster-related challenges, reach out to your mortgage servicer as soon as possible. Many servicers offer relief programs, including forbearance, which allow you to temporarily pause or reduce payments.
✅ Steps to take:
Contact Your Loan Servicer: They are the company managing your mortgage payments and can provide options for financial relief.
Leverage Federal Resources:
📞 HUD-approved housing counselors: 1-800-569-4287
☎️ FHFA HOPE Hotline: 1-888-995-HOPE (4673)
Act Quickly: ⏳ Many relief programs have strict deadlines, so it's best to act fast to avoid missing out.
By reaching out early, you can ease the financial strain while you work through the recovery process.
Update Your Insurance Policy
📋 A best practice for all homeowners is to call their insurance agent ANYTIME your mortgage servicing company changes.
💡 Why this matters:
Homeowner’s Insurance Policies: Need to reflect the correct servicer to avoid lapses in coverage.
Flood and Hazard Policies: Must meet the new servicer’s requirements.
This simple step ensures you are not subject to clerical errors on behalf of the mortgage servicers and allows you to be proactive with your insurance agent. This so important to ensure they remain fully protected and prevents unexpected issues during a claim.
Preparing for Future Disasters
⛈️ Disasters can happen unexpectedly, but you can take steps to prepare for the future:
Review Your Insurance Coverage: 🔍 Check to see if you have flood insurance or other necessary coverage that may not be included in a standard policy.
Create an Emergency Plan: 🗺️ Set up evacuation routes, emergency contacts, and pack a go-bag with essential items.
Safeguard Important Documents: 📂 Keep mortgage papers, insurance policies, and other vital documents in a safe, fireproof, and waterproof location.
See checklists below. Be sure to review and set your plan in motion. Click HERE to send me an email requesting downloadable copies of the checklists.
💖Reach Out for Help
🤝 If you need assistance or have questions, don’t hesitate to contact me. I'm here to support you through this process. Whether you need more information on mortgage relief options or advice on insurance, I'm just a call or email away.
Stay safe, and remember that help is available!
