Hurricane Sandy victims have until today to get mortgage forbearance certification
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Many victims of 2012’s Hurricane Sandy are still waiting for their homes to be fully rebuilt -- and now, an important deadline looms: they have until today to attain a mortgage forbearance certification from their home state.
In 2014, an analysis by Ashbury Park Press found out that 305 homes affected by the hurricane in Monmouth and Ocean counties were in foreclosure during the first 10 months of the year. 134 of those homes had some level of damage while the rest were within flood zones.
Now Ashbury reports that hundreds – maybe even thousands – of affected families are being offered by New Jersey a chance to delay their mortgage payments, but they only have until 5 p.m. today.
According to the New Jersey Department of Consumer Affairs, qualified homeowners must have the following: “an outstanding mortgage obligation on your primary residence, which has been damaged by Superstorm Sandy; approved for assistance through the RREM or LMI programs or have received rental assistance from FEMA; and construction or elevation work that remains to be done on your primary residence, which is the result of damage sustained in Superstorm Sandy.”
So far, there have been 537 applications – 295 of which have been certified, a department spokeswoman told Ashbury. Click here for applications and FAQ on the forbearance certification.
Related stories:
Proposed FEMA flood rule could have big lender implications
Hurricane Sandy Recovery Funds
In 2014, an analysis by Ashbury Park Press found out that 305 homes affected by the hurricane in Monmouth and Ocean counties were in foreclosure during the first 10 months of the year. 134 of those homes had some level of damage while the rest were within flood zones.
Now Ashbury reports that hundreds – maybe even thousands – of affected families are being offered by New Jersey a chance to delay their mortgage payments, but they only have until 5 p.m. today.
According to the New Jersey Department of Consumer Affairs, qualified homeowners must have the following: “an outstanding mortgage obligation on your primary residence, which has been damaged by Superstorm Sandy; approved for assistance through the RREM or LMI programs or have received rental assistance from FEMA; and construction or elevation work that remains to be done on your primary residence, which is the result of damage sustained in Superstorm Sandy.”
So far, there have been 537 applications – 295 of which have been certified, a department spokeswoman told Ashbury. Click here for applications and FAQ on the forbearance certification.
Related stories:
Proposed FEMA flood rule could have big lender implications
Hurricane Sandy Recovery Funds
