Assistance with basic necessities
FOOD, SHELTER, AND MEDICAL NEEDS
Shelter, food, water and medical assistance
Housing
assistance
Additional Disaster Information
Visit the United State's Disaster Assistance page
Disaster Recovery, A Resource for Homeowners
This guide can help homeowners with disaster preparedness and steps to recovery.
Need more information on property insurance claims?
Assistance with financial hardship
If you've been impacted by a disaster, there are a number of options that may be available to you. These include:
- Temporarily suspending your payments (forbearance)
- Options to repay suspended payments following forbearance
- Other assistance options on FHA, USDA and conventional loans
- Expanded Federal Emergency Management Agency (FEMA) assistance
- Additional resources available to all M&T customers
Plus, if you're in a FEMA declared disaster area, M&T will:
- Suppress or waive late charges for mortgage, loan and credit card accounts for a minimum of three months after FEMA declares the individual/public disaster areas.
- Not report missed mortgage and loan payments to the credit bureaus for a minimum of three months after FEMA declares the disaster.
Find out if your county is eligible for assistance by visiting FEMA.gov.
Disaster Relief Forbearance Plan
If your state is impacted by a disaster, we can place your loan on a Disaster Relief Forbearance Plan which allows you to temporarily suspend your mortgage payments for one or more months if you are unable to maintain your monthly payment.
We are here to help you.
Please call us at 1-800-724-1633 for more information on next steps and eligibility requirements if you are interested in a Disaster Relief Forbearance Plan.
PLEASE NOTE:
The total amount of payments temporarily suspended will become due and payable at the end of the forbearance period. If your hardship is resolved after your forbearance, but you are unable to make these payments, we have several mortgage assistance options that may be available to you depending on the investor of your loan. You will not be required to make all of these payments at once at the end of your forbearance period.
For more information on these mortgage assistance options following the completion of a Disaster Relief Forbearance Plan, click here.
Options Following Forbearance
If your hardship is resolved after your Disaster Relief Forbearance Plan, but you are unable to repay the temporarily suspended payments, we have several mortgage assistance options that may be available to you depending on the investor of your loan.
- Repayment Plan - This plan allows the temporarily suspended payments to be paid back over a period of months. The monthly amount of those suspended payments is added to your regular monthly mortgage payment
- Disaster Relief Modification - This solution allows a borrower who was current at the time of the disaster declaration to add any suspended amounts to the unpaid principal balance. This solution may include an extension of your loan term. You may be required to provide documentation confirming the repair and occupancy of your property along with information confirming that your employment status has returned to what it was before the disaster
- Loan Modification with Financial Evaluation - For borrowers who were delinquent prior to the disaster declaration or may not otherwise qualify for a Disaster Loan Modification, this plan adds any suspended or past-due amounts to the unpaid principal balance with the submission of required documentation. If approved for the modification, the loan is then extended over a new term
We are here to help you.
Please call us at 1-800-724-1633 for more information and next steps.
Disaster Loan Assistance
The Small Business Administration (SBA) offers disaster assistance in the form of low interest loans to businesses, nonprofit organizations, homeowners, and renters located in regions affected by declared disasters. SBA also provides eligible small businesses and nonprofit organizations with working capital to help overcome the economic injury of a declared disaster.
The SBA has strict Application Filing Deadlines set for each FEMA Declared event. If you are interested in the program, be sure to submit your application in a timely manner.
Who can apply for an SBA disaster loan?
- Businesses of all sizes
- Homeowners
- Renters
- Private nonprofit organizations
You must be located in a declared disaster area and meet other eligibility criteria.
How to use an SBA disaster loan
SBA disaster loans may be used to cover:
- Losses not covered by insurance or funding from the Federal Emergency Management Agency for both personal and business needs
- Business operating expenses that could have been met had the disaster not occurred
Types of disaster loans
- Physical damage loans
- Mitigation assistance
- Economic injury disaster loans
- Military reservist loans
Mortgage Assistance Options specific to Investor / Insurer
FHA
Partial Claim - To cure the suspended or past-due amount, FHA allows us to use a Partial Claim, which is an interest free subordinate lien to HUD in the amount of the suspended or past due payments. This subordinate lien will not require payment until the earliest of (1) the maturity of the mortgage, (2) the sale of the property, or (3) the payoff of the mortgage.
USDA
Mortgage Recovery Advance - To cure the suspended or past-due amount, USDA allows us to use an MRA, which is an interest free subordinate lien to USDA in the amount of the suspended or past due payments. This subordinate lien will not require payment until the earliest of (1)the maturity of the mortgage, (2) the sale of the property, or (3) the payoff of the mortgage.
FNMA / FHLMC
Payment Deferral - A payment deferral brings your mortgage current and delays repayment of certain suspended or past-due monthly principal and interest payments, as well as other amounts we paid on your behalf related to the suspended or past-due monthly payments. You would not be responsible for paying the suspended or past-due amounts until the earliest of (1) the maturity of the mortgage, (2) the sale ofthe property, or (3) the payoff of the mortgage. To be eligible for this option, you must have been current or less than two months delinquent at the time of the disaster.
M&T Owned
M&T Disaster Modification - Only verbal confirmation is needed to proceed with this permanent modification, as long as you were current at the time of the disaster. A disaster modification would add any suspended amounts to the unpaid principal balance. It is a permanent change to one or more of the terms of the mortgage loan where the goal is to achieve a new principal and interest payment that is no greater than the current principal and interest payment.
We are here to help you.
Please call us at 1-800-724-1633 for more information on next steps and requirements.
Expanded Federal Emergency Management Agency (FEMA) Assistance
Learn more about the updates to the FEMA Individual Assistance Program.
Learn more about the updates to the FEMA Tribal Nations Individual Assistance Program.
Resources for Other Loan Types
HELOC Customers
- If your home has a home equity line of credit and has sustained disaster-related damage, please call us at 1-800-724-6444, and then press "0" to be routed to the next available representative
- If you are behind in your payments and need assistance please reach out to us at 1-888-526-1580
Installment Loan Customers
- If collateral securing your loan has sustained disaster-related damage, please reach out to us at 1-800-724-2440
- If you are behind in your payments and need assistance please reach out to us at 1-800-724-2525
Credit Card Customers
- If you are behind in your payments and need assistance please reach out to us at 1-800-724-2525
Loan Impacts & Credit Reporting
- Monthly Payment: Your payments will end when the deed-in-lieu is completed
- Interest Rate: Your loan will be terminated and payments will end when the deed-in-lieu is completed
- Credit Reporting Impacts: If a deed-in-lieu is completed, we will follow standard industry practice and report to the major credit reporting agencies that a deed-in-lieu was completed
- Tax Implications: Please consult a tax advisor to discuss potential tax consequences
If you need assistance, contact us at 1-800-724-1633 and we'll review assistance options with you.
