WINSTON-SALEM, N.C., Sept. 2 /PRNewswire-FirstCall/ -- Triad Guaranty Inc.
(Nasdaq: TGIC) announced that its subsidiary, Triad Guaranty Insurance
Corporation, would work closely with mortgage lenders and servicers who have
customers that have been affected by damage to their homes due to Hurricane
Katrina in order to avoid foreclosure. Triad follows the guidelines
established by Fannie Mae and Freddie Mac for disaster situations;
additionally it will offer:
- Capitalization of up to four mortgage payments
- Extension of foreclosure for an additional four months
- Extension repayment plans up to 12 months automatically approved
"It is important that people take care of their families first after a
disaster like this," stated Shirley Gaddy, Senior Vice President Operations.
"Triad will encourage its lenders to review any means possible to ease the
burden of the mortgage payments for those who are rebuilding their homes and
lives."
Triad Guaranty Insurance Corporation, a wholly owned subsidiary of Triad
Guaranty Inc., is a nationwide mortgage insurer providing mortgage insurance
(MI) to residential mortgage lenders. Private MI makes homeownership available
to buyers with equity of less than 20%, facilitates the sale of mortgage loans
in the secondary market and protects lenders from default-related expenses.
For more information, please visit the company's web site at
http://www.triadguaranty.com.
SOURCE Triad Guaranty Inc.
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Related links:
http://www.triadguaranty.com
CONTACT:
Shirley Gaddy, Senior Vice President,
Operations, of Triad Guaranty Inc., +1-800-451-4872, ext. 1180,
or sgaddy@tgic.com
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