Fannie Mae and Miami-Dade County have joined together to help people who are behind or struggling with their monthly mortgage payments. They have opened a Mortgage Help Center that is located in the South Florida area.
The facility will be providing assistance to homeowners whose mortgages are owned by Fannie Mae. Homeowners can also receive counseling at the center that will help them in communicating with their mortgage servicers and lenders about solutions to their problems. They may be able to offer loan modifications, short sales, forbearance, and other foreclosure alternatives.
The center, which is located in Miami, is the first of a number of locations that are planned by Fannie Mae. They will be focusing the help centers on those parts of the country that have been hit hard by the national housing crisis, and Florida is one of the hardest hit.
A wide variety of programs and resources. For example, counselors will offer face-to-face, bilingual support from a staff of housing counselors. The advisors can help homeowners with both reviewing, preparing and submitting the necessary forms and paperwork that is required for the federal government’s Making Home Affordable Program. They also have a direct line of communication to both local and national banks, such as Wells Fargo, Bank of America, and others. They partner with these banks and servicers to offer other options to foreclosure and prevention programs. The staff on site will work closely with both the borrower and Fannie Mae to promptly resolve any loan issues that the homeowner may have.
Maybe the biggest reason is that the services are completely free to homeowners. There are no application fees, no charges, and no expenses will pop up.
Another is that the mortgage counselors have a direct relationship with numerous participating banks and mortgage servicers. They can help negotiate and mediate various options.
One of the keys to foreclosure prevention is communication. Studies show that local, face-to-face point-of-contact will improve the homeowner’s experience. It will reduce any misunderstanding and miscommunication with banks and lenders, they will decreases homeowner frustration, and also help establishes clear expectations of the process.
So whether you are behind on your mortgage payment today, or if you are having difficult in staying current, the Fannie Mae mortgage help center (phone number 1-800-7FANNIE) is a great resource for you to explore.
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