Governor Cuomo has new plan to protect victims of Hurricane Sandy

Posted at 6:16 PM, May 02, 2013
and last updated 2013-05-02 18:16:39-04

Governor Cuomo has a new plan to protect Sandy victims from spikes in their mortgage payments.

He asked Fannie Mae and Freddie Mac to change their monthly payment rules.

In some cases, interest rates will be reduced by 4%, making payments lower.

This is the second time the Governor has worked with the mortgage giants.

In February, he asked them to release $200 million in insurance checks.