WASHINGTON, DC – July 29, 2010 – (RealEstateRama) — Fannie Mae (FNMA/OTC) today announced the opening of a new mortgage help center in Chicago to provide counseling and other services for struggling homeowners in the greater metro area with loans owned by Fannie Mae. The Chicago Mortgage Help Center (Center) is the second facility and third announced partnership in a series of planned mortgage help centers across the country. Fannie Mae is partnering on this initiative with Neighborhood Housing Services of Chicago, major mortgage servicers, and civic and community leaders from across the region.At the Center, borrowers will meet directly with dedicated, on-site English- and Spanish-speaking staff and experienced housing counselors to discuss their mortgage situation. These face-to-face meetings will help borrowers better understand the range of foreclosure prevention options available to them and help them to better manage their relationship with their servicer.
“Struggling homeowners should know that free help is available to them and experienced housing counselors are on-hand to help them navigate through the process,” said Jeff Hayward, Fannie Mae’s Senior Vice President, National Servicing Organization. “Fannie Mae’s help center in Chicago is part of our broad effort to reach distressed borrowers, connect them with the resources they need to find alternatives to foreclosure and find the best resolution for their particular circumstances.”
“Every struggling homeowner has a unique situation,” said Ed Jacob, Executive Director, Neighborhood Housing Service of Chicago. “The new Mortgage Help Center overcomes the biggest hurdle worried homeowners face; navigating through the process to a solution.”
Counselors will provide a full range of services, which include reviewing a borrower’s loan, discussing foreclosure alternatives, collecting the required documents for the federal Making Home Affordable Program and providing help to finalize any pending loan workout efforts. Fannie Mae and Neighborhood Housing Services of Chicago will provide information and clarify expectations for the foreclosure prevention process. Efforts will be made to counteract local scams and groups that charge fees for modifications and foreclosure prevention services.
The Mortgage Help Center is only for borrowers who have a mortgage held by Fannie Mae. Homeowners can determine if Fannie Mae owns their loan by visiting www.fanniemae.com/loanlookup or by contacting Fannie Mae at 1-800-7FANNIE. Homeowners who do not have loans owned by Fannie Mae can contact the Homeowner’s HOPE™Hotline at 888-995-HOPE.
The Mortgage Help Center is available by appointment only and borrowers wishing to schedule a visit should call 866-442-8572.
Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America’s secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America.
Contact:
Fannie Mae Resource Center Telephone 1-800-7FANNIE
(1-800-732-6643)
