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September 19th, 2017 10:04 AM

Barbara’s Blog:

There is scarcely anyone in the entire state of Florida who was not impacted in some way by the recent hurricane Irma.  We lived through the three hurricanes in 2004 that crossed over Central Florida, but this one was much worse and more terrifying. Being without power, water and phones put a heavy burden on everyone and thousands are still suffering.   So many have been put in financial hardship from either the purchase of items needed to prepare for the storm, money spent to leave the area, or food replacement and repairs now needed from storm damage.  There is tremendous stress on homeowners, both emotionally and financially.  Perhaps this “Hurricane Tip” can be of help to someone:

If you live in a Federally declared disaster area (State of Florida), if you have a mortgage, your mortgage holder is required by Federal Law to give you a 3-month forbearance on your mortgage payments at no cost and no credit implications, if requested.   The total of these payments is either required to be paid at the end of the 3 months OR added to the back end of the loan, extending the term by 3 months. It is up to the individual lender, so it is important to ASK about their procedure.  But they are required by Federal Law to give you this Forbearance IF REQUESTED, and it will NOT affect your credit.  This is a great way to reduce the financial strain heaped upon us by Irma. 

Please understand you are either extending your mortgage loan an extra 3 months or required to pay the 3 months payments by year end, but the cash on hand right now can help with roof repair deductions, screen repairs, any minor interior damage, and food replacement.

It will be months, perhaps years, in some areas of Florida before our gorgeous state is brought back to normal.  But we ARE Florida strong and we will work together to assure that our state remains the number one tourist attraction, with all its beauty!

Written by Barbara Doeringer


Posted in:Local
Posted by Allen Doeringer on September 19th, 2017 10:04 AMPost a Comment

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