Quote: PJP said: I don't know if the government does something like this already.....but besides the insurance money these people will receive.....they should offer very low interest loans to all those in the devastated areas
Also:
Fannie Mae operates pursuant to a federal charter. Fannie Mae has pledged through its American Dream Commitment to expand access to homeownership for millions of first-time home buyers; help raise the minority homeownership rate to 55 percent; make homeownership and rental housing a success for millions of families at risk of losing their homes; and expand the supply of affordable housing where it is needed most.
Fannie Mae (has mortgage relief provisions in place for borrowers in Mississippi, Louisiana, Alabama, Florida and other states facing hardships as a result of widespread damage caused by Hurricane Katrina.
With Fannie Mae's disaster relief provisions, lenders help borrowers in several ways, including suspending mortgage payments for up to three months, reducing the payments for up to 18 months, or in more severe cases, creating longer loan payback plans. Such assistance is provided on a case-by-case basis, and is designed to meet the individual needs of borrowers.
