Thousands of homeowners whose properties were damaged by Hurricane Sandy and cannot make their mortgage payments have gotten another reprieve -  the federal government announced Friday that borrowers with home loans insured by the Federal Housing Administration could suspend mortgage payments for up to one year while they repair their homes.
Homeowners with federally backed loans had already been given a payment delay period of six months that was due to expire April 30. About 286,000 homeowners with F.H.A. loans in the areas affected by the storm, including more than 95,700 in New York and about 32,513 in New Jersey, are now eligible for the new 12-month relief.
Shaun Donovan, the secretary of the Department of Housing and Urban Development, said borrowers would also be able to work out repayment plans to avoid having to pay the missed payments in a lump sum at the end of the delay or forbearance period. Mr. Donovan said Fannie Mae and Freddie Mac, the government-controlled mortgage finance companies that guarantee most loans, are offering similar accommodations.
“This would ensure that families don't face a crisis when this period ends,†he said.
Mr. Donovan spoke at a news conference in the Manhattan office of Senator Chuck Schumer, who urged banks to “follow the cues of the government agencies†and defer payments as well. Private loans with no federal backing account for a relatively small percentage of all mortgages.
