Fannie Mae Aids Borrowers With Help Centers

Fannie Mae (Stock Quote: FNM) has rolled out a trial program in Miami that brings mobile “Help Centers” to neighborhoods that promise to make life easier for mortgage holders who need help paying their loans and dealing with loan modification programs.

The free program is a joint venture between Fannie Mae and Miami-Dade County, along with “participating mortgage servicers” according to Fannie’s web site.

According to the agency, the Mortgage Help Center “has been opened in South Florida to help local homeowners whose mortgages are owned by Fannie Mae and who may be behind on their mortgage payments or struggling to make their payments.”

Local residents can either walk into the center (with an appointment) or get counseling over the phone. It looks like the program includes:

  • Explanations of loan workout options.
  • Explanations of foreclosure options.
  • Help gathering and sending critical paperwork to mortgage servicers.

Fannie Mae says it has professional mortgage advisers familiar with the Miami mortgage market to handle consumers' questions and complaints. Help Center advisers also have a direct link to local mortgage companies, so getting a quick question answered isn’t a problem, FNMA says.

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