The Toccoa River reached 18.05 feet at Copperhill between late Wednesday, Nov. 4, and early Thursday, Nov. 5. That beat its record of 17.8 feet, set on Feb. 16, 1990, according to Atlanta News First, citing NOAA data. McCaysville and southern Fannin County were hit hardest, and Gilmer County lost roads and culverts. If you own a damaged home there and you're looking for mortgage help after flood Georgia owners can use this week, call your mortgage servicer first. Do it before you know what federal aid will come.
Gov. Brian Kemp declared a state of emergency for Fannin, Gilmer, Murray and Union counties on Nov. 5. It expires Nov. 12 at 11:59 p.m. unless he extends it, Atlanta News First reported. WSB-TV reported that Gilmer County also declared a local emergency. There is no federal major disaster declaration so far. On Nov. 5, FOX 5 Atlanta reported that federal authorities hadn't said whether they would approve one. On Nov. 7, GEMA Director Josh Lamb told WSB-TV, "Assessments are preliminary and ongoing as teams continue to evaluate the extent of the damage." GPB reported that McCaysville Mayor Terry Arp said the town has started seeking federal assistance.
The damage is serious. Atlanta News First reported 6 to 7 feet of water in parts of downtown McCaysville. Its Nov. 6 report said dozens of homes and businesses were destroyed and quoted Lamb as saying 97 water rescues were carried out in Fannin County. GPB counted 100 rescues, most of them in Fannin. NewsChannel 9, citing WSB-TV, reported that Julie Barrs, 56, of Ellijay died when her car was swept away on CC Camp Road in Murray County. Mayor Arp estimated $10 million to $15 million in structural and property damage to one section of the downtown commercial district, FOX 5 reported.
Does a federal disaster declaration change my mortgage options?
Yes, for some options. Several forms of relief only apply once an area becomes a "FEMA-Declared Disaster Area eligible for Individual Assistance." That's the phrase mortgage rules use, and Fannin and Gilmer don't have that status yet.
Once a declaration covers your county, these become available:
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Fannie Mae's no-contact forbearance. A servicer can grant up to 3 months of initial forbearance before it has had a full conversation with you. This requires the property to be in a declared area, the loan to have been current or less than two months behind when the disaster hit, and the loan to be at least one month delinquent now (Fannie Mae D2-3.2-01).
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A second route to Fannie Mae and Freddie Mac disaster relief. Your property's location in a declared area, or your workplace's location, can qualify you for disaster payment deferral.
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FHA's 90-day foreclosure moratorium. In a 2025 Texas flood, HUD said the moratorium was effective as of the President's disaster declaration date.
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FEMA Housing Assistance. It covers uninsured losses caused by a presidentially declared disaster.
What mortgage help applies right now, without a declaration?
More than many owners expect. Fannie Mae's disaster rules (D1-3-01) cover floods. They apply to properties in a disaster area "regardless of whether the property is in a FEMA-Declared Disaster Area eligible for Individual Assistance." Under those rules, the servicer must "Counsel the borrower on the availability of appropriate workout options and federal disaster relief" and "Ensure that any applicable property insurance claims are filed and settled promptly." The servicer also needs Fannie Mae's written approval before it starts or moves forward with a foreclosure on a disaster-impacted property.
Regular forbearance doesn't depend on a declaration either. Fannie Mae requires an "eligible hardship." Plans are granted in increments of up to three months, to a cumulative maximum of 12 months, and anything longer needs Fannie Mae's approval. The servicer "must not accrue or collect late charges from the borrower during the forbearance plan."
An insured loss qualifies on its own. Under Fannie Mae's disaster payment deferral, you can defer up to 12 months of past-due principal and interest into a non-interest-bearing balance. That balance comes due when the loan matures, or when you sell, transfer, refinance or pay it off. You need a disaster hardship plus an insured loss to the property, or a declared area. The loan must have been current or less than two months behind when the flood hit. Freddie Mac's rules are similar: a financial hardship plus either an insured loss or a declared area. Freddie Mac says that after disaster forbearance, the servicer "may offer a disaster payment deferral."
Before you call your servicer
Your servicer is the company named on your monthly statement. It may not be the lender that made your loan. Find out who backs the loan: Fannie Mae, Freddie Mac, FHA, VA, USDA, or a bank holding it in its own portfolio. The CFPB notes that if your loan isn't backed by one of those entities, relief is up to the loan's owner or servicer. Fannie Mae's guide says government-backed loans follow FHA, VA or USDA Rural Development rules. If you have a VA or USDA loan, ask the servicer which rules apply to you.
Before you call, have your insurance claim numbers and your photos ready. Also file a damage report through the Fannin County EMA self-reporting portal. FOX 5 Atlanta reported that officials are urging residents to use it, and the reports help them assess disaster response needs.
What should I ask my servicer about forbearance?
Start by explaining what happened. Give the date, describe the damage, and say the home is in a county under Gov. Kemp's Nov. 5 state of emergency. Then ask:
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Who owns or insures my loan?
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Which disaster forbearance or hardship options do I qualify for today, before any federal declaration?
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How long is the first forbearance term, and how do I extend it?
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Will late fees be waived?
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How will the forbearance be reported to the credit bureaus?
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When forbearance ends, will I owe a lump sum, or can I get a repayment plan or a payment deferral?
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Does my insured loss qualify me for disaster payment deferral now?
Get the answers in writing. The CFPB suggests watching your credit reports afterward in case the forbearance is reported incorrectly.
How do insurance checks work when my mortgage company is on the check?
Insurers typically issue "a check made out to both you and your mortgage servicer or lender," according to the CFPB. The servicer usually releases part of the money before work starts and the rest as repairs progress. The CFPB also points out that you still owe your mortgage payments while the claim is being paid out.
Questions to ask the servicer's loss-draft department:
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What is your mailing address and process for insurance checks?
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How should I endorse a check made out to both of us?
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Will the money sit in an interest-bearing account for my benefit?
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How much will you release up front, and how often will you inspect?
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Do you accept photos or video for inspections?
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What documents do you need, such as the adjuster's report or a contractor's bid?
For Fannie Mae loans, the rules are specific. Under B-5-01, undisbursed claim money goes into an interest-bearing custodial account "for the borrower's benefit." The interest is paid to you after repairs are finished. How fast the money is released depends on how delinquent your loan is:
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Current or less than 31 days delinquent: The first release can be up to the greatest of three amounts: $40,000, 33% of the proceeds, or the amount by which the proceeds exceed the loan balance, interest and advances. The rest is paid after periodic inspections. No final inspection is required, and you don't need receipts for reimbursements of $40,000 or less. The servicer can do remote inspections using photos or video you send.
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31 or more days delinquent: Proceeds of $5,000 or less can be paid in one check. On larger claims, the first release is 25% of the proceeds, capped at $10,000 or the amount by which the proceeds exceed the loan balance, interest and advances, whichever is greater. The rest is paid in increments of up to 25% after inspections, and a final inspection is required.
Because of these tiers, a missed payment can slow your repair money. Ask the servicer which tier your loan is in. If the house can't be rebuilt, Fannie Mae applies the proceeds to the loan balance. Freddie Mac's disaster page says servicers must pay out loss proceeds without delay.
If you have NFIP flood insurance
Report the loss to your agent or insurance company, and give them the name of your mortgage company. Ask whether you can get an advance payment. FEMA notes on its file-a-claim page that "Advance payments are deducted from the final claim payment." The NFIP Call Center is 1-800-427-4661. FEMA has said the adjuster's package can include "a check made out to you and/or your mortgage company."
Mark the deadline. FEMA tells policyholders to submit the signed Proof of Loss within 60 days of the date of loss, "even if you do not agree with the adjuster's loss estimate." For this flood, that's early January 2027. If something was left out, you can add it later through a supplemental claim.
What if I don't have flood insurance?
Many owners here don't. McCaysville's police chief told Atlanta News First that "some of these people have no flood insurance." If that's you, file a claim under your homeowners policy anyway. FEMA says applicants must file with their insurer and send in the settlement or denial letter for some types of aid. A written denial is something you can use. Keep receipts and photos, and report the damage to Fannin County EMA.
If a presidential declaration comes, you'd register at DisasterAssistance.gov or by calling 800-621-3362. FEMA housing aid covers primary residences only and can't pay for anything insurance already covered. In the meantime, tell your servicer you have an uninsured loss and ask what options apply now. Keep making payments if you can.
For future floods, The Flood Insurance Guru's Chris Greene notes that NFIP policies generally take 30 days to start, with limited exceptions such as a loan closing. A policy you buy now won't cover this flood, but it will cover later ones.
Cabins, second homes and rentals
This matters a lot in the Blue Ridge and Fannin rental market. Fannie Mae allows disaster forbearance on second homes and investment properties. FEMA, however, states plainly, "We do not offer housing assistance for secondary or vacation homes." If you own a rental cabin, your recovery will come through your insurer and your servicer, not FEMA.
If you flooded in August too
McCaysville also flooded on Aug. 3, 2026. WSB-TV reported that about 50 homes and businesses were hit, 19 people were rescued, and the city's water treatment plant was damaged. If your property was damaged both times, tell the servicer about both floods. Keep separate claim files, photos and receipts for each, so payments for one aren't mixed up with the other.
FHA borrowers
For FHA loans, the CFPB says the lender "may stop or delay initiation of foreclosure for 90 days." In past disasters, HUD's formal moratorium started on the date of the presidential declaration, so it isn't in effect here yet. HUD's 2025 Texas release also described Section 203(h) mortgages, which offer "100 percent financing for eligible homeowners to rebuild their home or purchase a new one," and Section 203(k) loans for rehab. HUD also pointed borrowers to HUD-certified housing counselors, who are free to use and worth calling before you make a decision.
Red flags
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A third party offering to get you a loan modification. The CFPB advises going directly to your servicer.
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A contractor who asks you to sign the insurance check over to them. The check is made out to both you and your servicer so the money goes into actual repairs.
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Forbearance terms you only heard on the phone. Ask the servicer for a letter or email confirming them.
Checklist and dates
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Servicer: Ask about forbearance, late fees, credit reporting, what happens when forbearance ends, and the loss-draft process. Get the answers in writing.
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Insurer or NFIP (1-800-427-4661): File the claim, give your mortgage company's name, and ask about an advance.
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Fannin County EMA: Submit a report through its damage self-reporting portal.
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FEMA (800-621-3362, DisasterAssistance.gov): Register only after a presidential declaration.
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Nov. 12 at 11:59 p.m.: The state emergency expires unless it's extended.
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60 days from your date of loss (early January 2027): Deadline for the NFIP Proof of Loss.
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