HUD homes damaged by Hurricane Sandy

Response strategies have been set in place by the United States Department of Housing and Urban Development and Government Sponsored Enterprises to help homeowners who were victimized by Hurricane Sandy. As a matter of fact, Freddie Mac strongly encouraged lenders to help borrowers as they start the recovery process.

Many HUD homes were impacted by this storm, but the government wants to give everyone the opportunity to find a workable solution to the damages that occurred when the hurricane hit the East Coast.

Another factor that will help many of those who received damages to their homes or lost them entirely is the forbearance options for mortgage payments that are being encouraged by the government. As a matter of fact, in some cases that forbearance option could extend to as much as a full year.

Fannie Mae offered another solution for those who will inevitably find that they are unable to meet full mortgage payments for some time. This agency sent notice to servicers that they may reduce or suspend payments on home mortgages for a temporary period not to exceed 90 days.

Families that were forced to evacuate their homes because of the expected devastating effects of Hurricane Sandy may begin to rebuild their lives in their existing homes, or they may choose to find a new home through the purchase of HUD homes for sale. People searching for HUD foreclosed homes can benefit from the Guide to How to Buy HUD Homes found on the RealtyStore.com website.

The hurricane may have lefts its mark on the eastern most portion of the United States, but it should not be allow to forever impact the lives of those who survived.