Those affected by Hurricane Harvey & Irma - Mortgage Forbearance & Other Assistance (1 Viewer)

[Anthony Martino]

Hey all,

If you are in a Federally declared disaster area due to the recent hurricanes and need some help, here's a few I'm aware of:

1. Mortgage Forbearance - contact your mortgage provider. You may be able to get payments pushed out where you don't have to pay for 3 or more months.

Be aware each lender has different guidelines, some just move the months you don't pay until the end of your mortgage (i.e. extend it). Others may require you to make a lump sum payment to get caught back up, or to pay a higher amount over a period of time than normal to catch up, etc.

2. Auto Loans / Credit Cards - check with your lenders, they may offer different relief from payments without any penalties (although they may still accrue interest)

3. Register at www.disasterassistance.gov/ and see what options are available to you. You may be eligible for additional coverage above and beyond what your insurance company provides

4. Check your insurance policies to see what is covered. For instance, my homeowners policy covers spoiled food up to $250 as an example.

Feel free to share whatever other resources you found helpful or that may assist others.

FWIW, Jenn and I are ok. We lost power from Sunday through Thursday but were able to get a hotel room. No major damage, but some of our wooden fence was missing and it wasn't storm damage, so assuming someone took some of it to board up their property while we were gone. And of course food spoiled in the fridge. But other than that we're ok.

 

[BGinGA]

some of our wooden fence was missing and it wasn't storm damage, so assuming someone took some of it to board up their property while we were gone.

Interesting, never heard of that happening before. Makes sense from a gotta-do-what-ya-gotta-do perspective, I guess. Maybe they will return the boards when no longer needed.

 

[moose]

Hey all,


4. Check your insurance policies to see what is covered. For instance, my homeowners policy covers spoiled food up to $250 as an example.

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Useless unless part of a much larger claim. If you put a claim for something this small through your insurance it will become the most expensive food ever as you pay for it for years through higher premiums.

 

[WedgeRock]

Good info, and glad you guys made it through, even if you are missing a bit of your fence.

Useless unless part of a much larger claim. If you put a claim for something this small through your insurance it will become the most expensive food ever as you pay for it for years through higher premiums.

Not really. Ask your insurer. We used to review for premiums after 3 losses, not one.

And in CAT situation, reinsurance kicks in. So they are more liberal on coverage, just trying to get through all the claims. Adjuster may be from out of state or hired as in dependants.

Plus, if you have $1250 in food (separate freezer with steaks, etc.) and a $1000 deductible, you'll get the entire $250. Calculate loss, subtract deductible, apply sub limit.