FEMA Disaster Louisiana Update
June 3, 2021
The Federal Emergency Management Agency (FEMA) has issued a major disaster declaration for the state of Louisiana due to severe storms, tornadoes, and flooding from May 17, 2021.
Borrowers who are currently or have been in Forbearance are acceptable with the following restrictions:
- Borrower(s) must be current on all mortgages for all properties owned through the month of closing.
- Borrower(s) must document that they have been removed from forbearance on our subject, prior to closing.
- Borrower(s) who were brought current on their mortgage(s) by the following methods are not eligible.
- This applies to all mortgages on any property owned
- Repayment Plan
- Modification Agreement
- Payment Deferral
- This applies to all mortgages on any property owned
Please contact your Account Executive with any questions.
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