Fannie Mae opened a new Help Center in Miami,Florida, the first in a series of planned nationwide Mortgage Help Centers to be opened in the United States. The Help Center will help accelerate the response time for struggling borrowers with loans owned by Fannie Mae In South Florida. The Help Center is an initiative by Fannie Mae and Miami-Dade County to help keep people in their homes during the current housing crisis.
The housing market in Dade County has been hit particularly hard, according to a statement by Miami Dade County Mayor Carlos Alvarez, who welcomed Fannie Mae's first Mortgage Help Center to Miami in a press statement. Alvarez said "The nationwide housing slump has hit our area particularly hard, and this partnership has the potential to keep families struggling with foreclosure in their homes."
“We are committed to helping struggling borrowers understand all of the options available to them to avoid foreclosure and to provide them with the assistance they need in the most streamlined manner possible." said Terry Edwards, Executive Vice President of Fannie Mae in a press release.
The help center in Miami has a staff of experienced housing advisers who speak English and Spanish that will discuss the mortgage situation with borrowers. People will be able to meet with the advisers in face to face meetings that will help them to understand the entire range of foreclosure prevention options. The center will work closely with mortgage services to help get a prompt response on inquiries.
The Help Center in Miami is a joint initiative between Fannie Mae, civic and community leaders from Miami-Dade County, Neighborhood Housing Services of South Florida and major mortgage servicers.
"This is a very important partnership for residents in the City of Miami," said City of Miami Mayor Tomas Regalado. "The housing crisis has severely impacted many individuals here and across the country, and this type of assistance is desperately needed. We are looking forward to working along with Fannie Mae to make this effort a success."
The services available at the Help Center in Miami include a review of the mortgage with the borrower, discussion foreclosure alternatives, documents for the federal Making Home Affordable Program and reaching a decision on any pending loan workout efforts. Fannie Mae
The Neighborhood Housing Services of South Florida will work to provide information and clarify expectations for the foreclosure prevention process . The organization will also work to counteract local scams and groups that charge fees for modifications and foreclosure prevention services.
The Mortgage Help Center is only for borrowers who have a mortgage held by Fannie Mae. Homeowners can determine if Fannie Mae owns their loan by visiting www.fanniemae.com/loanlookup or by contacting Fannie Mae at 800-7FANNIE. Homeowners who do not have loans owned by Fannie Mae can contact the Homeowner's HOPE™ Hotline at 888-995-HOPE.
The Mortgage Help Center is available by appointment only. Borrowers wishing to schedule a visit at the Mortgage Help Center in Miami, Florida should call 877-208-3652.
Written by Christine Nyholm
HULIQ.com
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