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Fannie Mae Opens First Mortgage Help Center in Texas

""Fannie Mae"":http://www.fanniemae.com is adding a sixth mortgage help center to its arsenal with its first Texas location. The new center, located in Dallas, is a partnership with two non-profit housing agencies that will provide free counseling services for struggling Dallas/Fort Worth-area homeowners with loans owned by Fannie Mae.

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The ""North Texas Housing Coalition"":http://www.nthcinc.org/ is partnering with Fannie Mae to work directly with borrowers at the help center. The ""Tarrant County Housing Partnership"":http://www.tchp.net/ will offer counseling services for homeowners with Fannie Mae loans in Fort Worth.

""Distressed homeowners facing economic hardships of varying degrees should know that free counseling is just a phone call or e-mail away, and our experienced staff is here to help each homeowner navigate through the myriad of options available to them,"" said Jeff Hayward, Fannie Mae's SVP, National Servicing Organization.

Fannie Mae says its mortgage help centers have been set up to assist borrowers in the hardest-hit areas of the country.

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""With one in every 281 Texas homes in foreclosure and Dallas and Tarrant Counties ranking second and third in the state for the highest foreclosure rates, we are reaching out to thousands of local homeowners to help resolve their mortgage situation,"" Hayward said.

The GSE's help centers provide distressed homeowners with the opportunity to meet directly with English- and Spanish-speaking staff and housing counselors to discuss their mortgage situations and better understand the foreclosure prevention options available.

""We live in communities filled with homeowners struggling to make ends meet and keep their homes,"" said Albert Martin, director of the North Texas Housing Coalition. ""The new Fannie Mae Dallas/Fort Worth Mortgage Help Center is important to North Texas and the communities it serves by positively impacting the families in our communities. For families who could be facing foreclosure, the center provides the lifeline they need to get help.""

Counselors will review a borrower's loan, discuss foreclosure alternatives, collect the required documents for the federal Making Home Affordable program, and provide help to finalize any pending loan workout efforts. Fannie Mae says initiatives are also under way to counteract local scams and groups that charge fees for modifications and foreclosure prevention services.

""This partnership could not have come at a better time,"" said Donna Van Ness, president of Tarrant County Housing Partnership. ""So many of our residents are struggling to stay current on house payments, and there is a lot of confusion about mortgage programs that are in place to help, so we look forward to working with Fannie Mae to help people stay in their homes and keep our neighborhoods strong.""

About Author: Heather Cernoch

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