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Fannie Mae Opens Sacramento Mortgage Help Center

Fannie Mae last week opened a mortgage help center in Sacramento, California, to provide free education and counseling services to struggling local homeowners with Fannie Mae-owned mortgages.

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The facility is Fannie Mae's 10th mortgage help center across the country.

The GSE developed the center in partnership with NeighborWorks HomeOwnership Center Sacramento Region, which staffs the office, as well as with local community and elected officials and area mortgage servicers.

The center offers consultations in person or over the phone with experienced housing counselors who review mortgage loans and financing options and help borrowers apply for loan workouts and other foreclosure alternatives.

According to Fannie Mae, more than 60 percent of the people who have worked with the GSE's mortgage help centers have been able to stay in their homes.

In addition to providing counseling and access to mortgage education and financial literacy resources, the center's staff will help homeowners coordinate with their mortgage servicers to help facilitate response times. They will also seek to help combat local mortgage fraud and abuse.

About Author: Phil Britt

Phil Britt started covering mortgages and other financial services matters for a suburban Chicago newspaper in the mid-1980s before joining Savings Institutions magazine in 1992. When the publication moved its offices to Washington, D.C. in 1993, he started his own editorial services firm and continued to cover mortgages, other financial services subjects, and technology for a variety of websites and publications.
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