Banks, Lenders Extend Sandy Assistance to Homeowners

Banks are offering extended relief to homeowners in areas affected by superstorm Sandy in the form of loan forbearance and fee waivers, making a small dent into the billions of dollars in damages that are expected. Fannie Mae and Freddie Mac reminded mortgage servicers last week that homeowners in places that are declared disaster areas by President Obama were eligible for federal assistance programs. In some cases mortgage payments could be delayed for up to one year, Freddie Mac said. Over...Full Story