Disaster Recovery and Mortgage Forbearance Guide

This guide outlines the steps to take after a disaster affects your property and finances. It emphasizes the importance of contacting your homeowners insurer to assess damage and understand coverage, including additional living expenses (ALE) insurance. The document details the process of mortgage forbearance, explaining how it allows homeowners to pause or reduce mortgage payments temporarily. It describes the options available for repayment after forbearance, including lump sum payments, repayment plans, payment deferrals, and mortgage modifications. The guide also stresses the need for open communication with mortgage servicers to navigate these options effectively. Additionally, it provides resources for disaster assistance, including contacts for FEMA and housing counselors, to support individuals in recovering from the financial impacts of disasters. Overall, the document serves as a comprehensive resource for homeowners facing the aftermath of natural disasters.