Fannie Mae to help struggling Florida homeowners; go nationwide
A new Mortgage Help Center in Miami, FL is looking to speed up the loan modification process for struggling Florida homeowners with mortgages held by government-run Fannie Mae (FM). Working in conjunction with local civic leaders, the goal is to educate and assist those who are having difficulty paying their mortgage or facing foreclosure.
Fannie Mae has plans to set up other help centers in areas across the nation that have been hit hardest by the housing crisis. The center in Miami is the first.
Centers are to be staffed with housing advisers who will speak one-on-one with borrowers to discuss loans, and offer information on how to prevent foreclosure. Staffers will work to resolve any loan issues between Fannie Mae and homeowners.
In addition, centers will offer a number of services including a complete review of the homeowner’s loan, and assist them in obtaining all critical documentation for the Making Home Affordable Program (HAMP). This service is free and borrowers are guaranteed that their information will be held in the strictest confidence.
Fannie Mae Executive Vice President Terry Edwards stated in a press release, “The center in Miami and our future centers across the country will build on Fannie Mae’s long-standing community development network and strong partnerships with local governments nationwide. We are committed to helping struggling borrowers understand all of the options available to them to avoid foreclosure and to provide them with the assistance they need in the streamlined manner possible.”
Help centers are only available to borrowers who have loans with Fannie Mae. Visit the help center website to locate a center near you. Look up your home loan here to find out if Fannie Mae owns your loan.
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Posted by Sharon Walker
