thousands of south Louisianans are knee-deep in floodwaters that engulfed the
region this past weekend. Your local team at Standard Mortgage is here to help you. Unfortunately,
this isnít the first time weíve dealt with a disaster of this magnitude. Decades
of recovery experience has taught us well. If you have to pull everything out
and start over, we understand what it takes to do that. We will help you get
through this devastating time. We are here, and we have your back.
We hope that
you and your family are safe. You have
our commitment to assist you in obtaining any and all loan assistance made
available by the Federal Agency regulating your loan type, which may include
payment forbearance. Please note that
ALL customers affected will be offered some type of disaster relief options. There will be a process of applying for immediate
forbearance and it may require some assistance on your part. We realize that this may bring added
frustrations at an already stressful time, but we will do our best to make the
process as smooth as possible.
Disaster Relief Ė FAQs
If your property has
sustained damage, please follow these steps:
your insurance company to file a claim.
Find out when an adjustor will come and when you can expect your
insurance loss draft check.
- Contact FEMA (Federal Emergency Management
Agency) to register for assistance.
They can be reached at (800)
621-3362 or visit DisasterAssistance.gov.
Please note that if you are eligible for an Individual Assistance grant
you are not required to pay back the grant to FEMA. However, loans from SBA (Small Business
Administration) must be repaid.
- Documents and Materials You Need To Apply
Social Security number
Address of the location where the damage
Current telephone number
- Total household annual income
- Routing and account number for your checking or
savings account (this allows FEMA to directly transfer disaster assistance
funds into your bank account).
- A description of your disaster-caused damage and
Contact Standard Mortgage. If you have sustained property damage or
face a financial hardship from the recent natural disaster, please contact our hotline at (800) 518-4551 or (504) 620-5138 or email firstname.lastname@example.org
after you have filed your claim and registered your loss with FEMA. We will be prepared to discuss how Standard
Mortgage will be involved in the process to restore your home and look for
other ways we can work with you with flexible loan payment options.
relief for loan payments will be provided if your home was damaged or you
are experiencing employment disruption from the disaster. The type of relief will be specific to
your loan type and individual needs.
During that time, we
- Donít charge fees for late payments
- Donít report late payments to credit bureaus
- Offer flexible loan payment options based on
your individual situation
- If you are
able to do so, we do encourage you to continue making your monthly payments to
the extent possible, but if you cannot, we may ask that you complete a
loss mitigation package to apply for forbearance assistance. Please keep in mind that any unpaid mortgage
payments will become due at the end of any disaster relief period.
you receive your insurance loss draft check you will notice that it is
co-payable to you and Standard Mortgage Corporation. As a mortgage provider, we have a financial
interest in ensuring your property is restored.
Please notify us as soon as you receive your check. We will give you information and forms you
will need to move forward with repairing your home.
Damage: In most cases if your home has
only minor damages and your loan is current, we will not oversee the repair
process. Instead, we will endorse the
insurance loss draft check to you to manage all repairs.
For many situations, including significant damage, Standard Mortgage will
monitor the progress of the repairs to your home. We will work with you to ensure that your
property is restored to its original condition.
We hope to help protect you from incomplete repairs or potential fraud
from unlicensed contractors.
the insurance loss draft check to Standard Mortgage Corp. On property repairs that we monitor, you will
need to endorse the check and send it to us where it will be deposited into an interest bearing account. Please
call or email Standard Mortgage for additional important information and
- Once we have reviewed your individual situation,
we will help guide you on contacting a licensed contractor and gathering
additional information to start the repairs to your home.
- In most situations, we will send your repair
checks directly to you and made payable to both you and the contractor you
hired. If your loan is current,
disbursements are made at various stages of completion:
- After the initial requested documentation is received
- When repairs are 50% complete
- When repairs are 100% complete and have been
American Red Cross
Shelter at Home
Disaster Assistance Improvement Programs
Tips for Hiring Contractors
Louisiana Home Builders Association
Louisiana Licensing Board for Contractors
Attorney General Jeff Landry
Poydras Street, Suite 300 Plaza
Orleans, LA 70139-0300
(800) 518-4551 or (504) 620-5138