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Fannie Mae Provides Free Foreclosure Prevention Services in Atlanta

Struggling Atlanta homeowners with home loans owned by ""Fannie Mae"":http://www.fanniemae.com can now take advantage of the company's new mortgage help center. The third facility in a series of[IMAGE]planned, nationwide mortgage help centers, the Atlanta center provides counseling and other services for borrowers to help them avoid foreclosure.

""A common misconception is that foreclosure is the only option, and in reality, foreclosure doesn't have to be an option,"" said Jeff Hayward, SVP of Fannie Mae's National Servicing Organization. ""We are opening the [center] to provide distressed homeowners in the area the resources necessary to stay in their homes including free access to high-quality counseling and in-person resolution of their particular mortgage circumstances.""


Borrowers meet with on-site English- and Spanish-speaking housing counselors to discuss their mortgage situations. In order to help a borrower understand the foreclosure prevention options available to them, counselors will review the loan, discuss foreclosure alternatives, collect federal documents for the Making Home Affordable program, and provide assistance to finalize pending loan workout efforts.

""For those who do not qualify for a modification or other solution, our counselors will work with the servicer and homeowner to arrange a graceful exit from the property, which may include assistance with relocation costs,"" Hayward said. ""Homeowners who are struggling to make mortgage payments or who anticipate financial hardship should know that our doors are open for them.""

Fannie Mae partnered on this initiative with Forest Park-based ""the D&E Group, A Financial Education and Training Institute, Inc."":http://www.depower.org/, as well as major mortgage servicers and civic and community leaders.

""The Fannie Mae Mortgage Help Center offers counseling, information, and tools necessary to help homeowners avoid foreclosure,"" said Carrie Harris, president and founder of the D&E Group. ""Struggling homeowners should seek counseling through the center or a HUD-approved counseling agency and guard against scams by avoiding any individual or business who promises a modification for a fee.""

About Author: Heather Cernoch


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