Does your home have “problem drywall” (also called Chinese Drywall)? If it does and you are a borrower with a Freddie Mac-owned mortgage backed by a single family home, you may be eligible for a forbearance.
Servicers are instructed to give borrowers relief in the form of suspended mortgage payments for up to three months or reduced payments for up to six months.
The majority of problem drywall complaints–which includes foul odors and corroded metal–have come from Virginia and along the Gulf Coast. As if folks in the Gulf Coast need the added worry.
Not sure if you have Chinese Drywall? Check out this blog from back in November on ways to test your home.
For more information on the announcement, go to the Freddie Mac website.