In Brief: Fannie Offering Relief To Tornado Victims

Fannie Mae has announced mortgage relief provisions for Kansas homeowners hit with tornado damage.

The disaster relief program allows loan servicers to suspending mortgage payments for up to three months, reduce payments for as long as 18 months, and create longer loan payback plans in special cases.

U.S. Rep. Todd Tiahrt, R-Kan., is encouraging families to take advantage of the program, and said that his district has "suffered some of the worst tornado damage in the state."

Holders of Fannie Mae mortgage securities will be paid as usual during the relief period, Fannie Mae said.

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