STATEN ISLAND, N.Y. — With so much at stake for residents of hurricane Sandy-ravaged communities, the Staten Island Board of Realtors (SIBOR) is glad to see any and all progress being made in lifting some immediate financial burdens from the shoulders of effected homeowners. In that vain, we are sharing the following news item with readers of our blog:
From the New York Times:
By LISA PREVOST
November 16, 2012
HOMEOWNERS reeling from the effects of Hurricane Sandy may find that their mortgage servicer is willing to ease some of the immediate financial burden.
Both Fannie Mae and Freddie Mac — the mortgage finance giants that guarantee or own most residential mortgages — have authorized their servicers to grant a 90-day forbearance period to borrowers in federally declared disaster areas.
“The expectation is that your life has been disrupted and the house may have been damaged,” said Brad German, a spokesman for Freddie Mac, “or your place of employment may have been damaged and your job may be unavailable.”
Under forbearance, a lender agrees not to take action against a delinquent borrower. In turn, a borrower agrees to a payment plan that would bring the mortgage current within a set period of time. READ MORE …
About The Staten Island Board of REALTORS® (SIBOR)
The Staten Island Board of REALTORS® (SIBOR) is the largest not-for-profit trade association in Staten Island, N.Y.
SIBOR exists to enhance the ability and opportunity of its members to conduct their business successfully and ethically; and to promote the preservation of the public’s right to own, transfer and use real property.
Comprised of over 1,600 members, SIBOR serves real estate agents, brokers and affiliated professionals throughout the borough and surrounding areas.
SIBOR is the provider of the Staten Island Multiple Listing Service Inc. (SIMLS), which works as a clearinghouse through which more than 250 local real estate firms exchange information on properties they have listed for sale. Together, its members participate in over 3,000 real estate transactions every year.
All SIBOR members belong to the New York State Association of REALTORS® (NYSAR) and the National Association of REALTORS® (NAR).
SIBOR may be reached at 718-928-3220 and viewed online at http://siborrealtors.com. SIBOR may also be visited on Facebook at “Staten Island Living,” on Twitter via @SIBOR, and on YouTube at the Staten Island Board of Realtors and RelevantPR channels.
Media Contact: Barton Horowitz
Relevant Public Relations, LLC
Headquarters: 718‑682‑1509
Mobile: 917‑715‑8761
Email: [email protected]
