Freddie Mac announced that it will extend its “full menu of relief policies” for borrowers affected by disasters to families whose homes have been destroyed or damaged by record floods in the Midwest.

FREDDIE MAC EXTENDS MORTGAGE RELIEF TO BORROWERS AFFECTED BY MIDWESTERN FLOODS

McLean, VA – Freddie Mac's full menu of relief policies for borrowers affected by disasters is being extended to families whose homes were damaged or destroyed by the recent floods in the Midwest and are located in some federally declared Major Disaster Areas. Freddie Mac (NYSE:FRE) is one of the nation's largest investors in residential mortgages.

"Freddie Mac and the nation's mortgage servicers will work together to advance available mortgage relief to homeowners affected by these devastating floods," said Freddie Mac Vice President of Servicing and Asset Management Ingrid Beckles. "We are instructing our servicers to work with borrowers with Freddie Mac-owned mortgages to receive forbearance on their mortgage payments for up to one year."

Freddie Mac disaster relief policies provide a number of ways for mortgage servicers to provide borrowers with Freddie Mac-owned mortgages in the declared major-disaster areas where individual assistance has been extended. The policies are designed to help borrowers protect their credit ratings and financial interests in their homes.

Freddie Mac, for example, gives servicers the discretion to reduce or suspend mortgage payments for up to 12 months for borrowers with Freddie Mac-owned mortgages. Each case must be individually assessed to determine which alternative will best fit the homeowner's circumstances.

Freddie Mac also strongly encourages servicers to help affected borrowers with Freddie Mac-owned loans by:

• Waiving assessments of penalties or late fees against borrowers with disaster-damaged homes;
• Not reporting forbearance or delinquencies caused by the disaster to the nation's credit bureaus; and
• Suspending foreclosure and eviction proceedings for up to 12 months.

For more information on mortgage payment relief, homeowners should contact their mortgage servicer – the company to which they send their monthly mortgage payment – or call Freddie Mac at 800-FREDDIE. Freddie Mac's general disaster relief policies are posted online at http://www.freddiemac.com/singlefamily/relief.html.

 About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees and a handful of contractors performing services in the Midwest, to a national company with over 500 employees. Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.