Well, it may be a classic example of 'damned by faint praise' or something along those lines, but a couple of announcements were made today regarding mortgage payments for those living in the Gulf Coast area affected by the BP oil spill disaster. Citibank and Freddie Mac both announced a willingness to allow homeowners up to three months time to NOT make scheduled mortgage payments IF their employment is negatively affected by the effects of the oil spill. While I am sure that said Gulf residents would rather make their payments and not have the spill at all, and while the effects of the spill may be felt way beyond three months, this is a most welcome gesture by these lenders. I feel confident in saying it very well could help many folks in the affected area avoid default and foreclosure. DETAILS: CHECK YOUR LENDER--AND DO IT NOW!!
Good luck!
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