Short answer
Call your servicer right away. On Fannie Mae loans, if your home is in a FEMA-declared disaster area eligible for individual assistance and you were current or less than two months behind when the disaster hit, the servicer can start a forbearance of up to 3 months even before reaching you. Once you're back on your feet, a disaster payment deferral can move up to 12 months of missed payments to the end of the loan.
What should I do first?
- Make sure everyone is safe, then document the damage with photos.
- File your insurance claim, including flood insurance if you have it.
- Call your servicer, explain the disaster and ask about forbearance.
- If FEMA declares a disaster in your area, register for assistance.
How does disaster forbearance work?
Your payment is reduced or paused for a time. For disaster hardships on Fannie Mae loans, forbearance can also cover a second home or investment property, which isn't true for most other hardships. The servicer will reach out before the forbearance ends to talk about next steps.
What is a disaster payment deferral?
After the hardship is resolved, if you can make your full regular payment again but can't catch up all at once, the missed payments can be set aside without interest and paid when the loan ends, you sell or you refinance. You qualify if the disaster caused a financial hardship and your home had an insured loss, is in a FEMA-declared area eligible for individual assistance, or your workplace is.
What if the disaster destroyed my home and I need to buy or rebuild?
FHA's Section 203(h) program insures loans for people whose home, owned or rented, was in a Presidentially declared major disaster area and was destroyed or damaged badly enough that it must be rebuilt or replaced. Under HUD's Handbook 4000.1, the FHA case number generally must be assigned within one year of the declaration, the new home must be your principal residence, and FHA's usual minimum cash investment doesn't apply. Lenders are told to be as flexible as prudent: credit problems caused by the disaster can be set aside if your credit was good before, and the payment on the destroyed home can be left out of your debts if you're working with that servicer. It can be combined with a 203(k) renovation loan to rebuild.
What about my insurance check?
Repair money often goes through your servicer. See why your insurance check is made out to your mortgage company and forbearance, deferral or modification. For flood coverage, see the flood zone guide.
Sources
- Fannie Mae Servicing Guide D2-3.2-01, Forbearance Plan (disaster flexibilities)
- Fannie Mae Servicing Guide D2-3.2-05, Disaster Payment Deferral
- HUD Single Family Housing Policy Handbook 4000.1, Update 18 (August 2026), 203(h) Mortgage Insurance for Disaster Victims
Checked November 2, 2026. Rules and dates change, so confirm current details before you rely on them.
General information only, not tax or legal advice. Program availability, eligibility and terms vary by lender and are subject to change and to underwriting approval. Not a commitment to lend.