Fannie Mae Opens Mortgage Help Center in Chicago

""Fannie Mae"":http://www.fanniemae.com/ has opened a mortgage help center in the Windy City in order to provide counseling and other services for struggling homeowners in the greater metro area with loans owned by the GSE.

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The new center in Chicago is the second facility and third announced partnership in Fannie Mae's planned series of mortgage help centers across the country. The GSE said it partnered on this initiative with ""Neighborhood Housing Services of Chicago"":http://www.nhschicago.org/, major mortgage servicers, and civic and community leaders from across the region.

""Fannie Mae's help center in Chicago is part of our broad effort to reach distressed borrowers, connect them with the

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resources they need to find alternatives to foreclosure, and find the best resolution for their particular circumstances,"" said Jeff Hayward, SVP of Fannie Mae's national servicing organization.

The center will provide at-risk borrowers with dedicated, on-site English- and Spanish-speaking staff and experienced housing counselors to discuss their mortgage situation. Fannie Mae said these face-to-face meetings will help borrowers better understand the range of foreclosure prevention options available and also help them better manage their relationship with their servicer.

According to Fannie Mae, the on-site counselors will provide a full range of services, including reviewing borrowers' loans, discussing foreclosure alternatives, collecting the required documents for the federal Making Home Affordable program, and providing help to finalize any pending loan workout efforts. In addition, Fannie Mae and Neighborhood Housing Services of Chicago will provide information and clarify expectations for the foreclosure prevention process.

""Every struggling homeowner has a unique situation,"" said Ed Jacob, executive director for Neighborhood Housing Service of Chicago. ""The new mortgage help center overcomes the biggest hurdle worried homeowners face â€" navigating through the process to a solution.""