This is going to be the stuff of urban legend in the coming months. “Homeowners foreclosed in areas affected by Katrina.” Freddie Mac has made a 3-month payment suspension automatic and even given lenders the option to return September payments that were already made. Other major institutions from Fannie Mae to FDIC to HUD/FHA to the Federal Reserve are making similar allowances. If the best you can do is put “her mortgage company” you shouldn’t run the story. Name the company, because it’s either not true, a bureacratic bungle or a policy that would change with public pressure in about 5 seconds. I’m leaning heavily toward the first possibility. I’m sure it’s all Haliburton’s doing.
Philadelphia Inquirer | 09/10/2005 | Evacuees are making roots in Philadelphia
Alison D’Antonio, who has been camped at her sister’s University City home along with her husband, their dog, and a host of relatives who fled New Orleans, has encountered no end of jammed computer links and busy signals as she tried to connect with insurers, mortgage companies, the food stamp office, and FEMA. Yesterday, she said she planned to go to Wanamaker School for help.
“None of us knows exactly where we’re going from here,” D’Antonio said. “None of us have plans on going back to New Orleans.”
Even so, her mortgage company said that the payment due on Sept. 1 – three days after her home went under – is past due and must be paid.