Information About Flood Damage Assistance
As the mortgage servicing provider for thousands of home loans, we want to be proactive in assisting homeowners who have been impacted by the flooding. If your property has been damaged by the flooding, please call the number below as soon as possible to insure we are aware of your situation. Merchants Bank has designated a loan servicing expert to assist you with any questions and concerns. If your property has been damaged due to flooding, here are the steps you should follow:
• If your home is in a designated federal disaster area, contact the appropriate agency immediately
• Assess the damage to the property with the assistance of an inspector, appraiser or third party with appropriate experience
• Provide information about your damage to the Bank along with insurance and repair information
• If you have flood insurance, contact your agent to begin the claim process
• If you have homeowners insurance, contact your agent to inquire whether your policy allows for coverage for the damage to your property and if so, begin the claim process
• Estimate the time it will take to make needed repairs
• Determine if you will need assistance with your loan payments.
If you feel you may be in need of assistance with your mortgage loan payments, we have several options available under secondary market guidelines.