Fannie Mae Chicago Mortgage Help Center.
Thousands of local Chicago homeowners may be able to receive help from a new Mortgage Help Center that was opened by Fannie Mae and Neighborhood Housing Services of Chicago. Families may be able to receive counseling, advice and other services, and the programs offered will provide assistance for struggling homeowners in the greater metro area.
Mortgage programs offered by the Chicago Mortgage Help Center
There will be a number of services and resources offered to those who need help. The center will be providing people who are currently behind on their monthly payments, as well as so called future at-risk borrowers, with dedicated, onsite both English- and Spanish-speaking staff. They will offer support to clients, and anyone from the community will also have access to a wide variety of experienced housing and mortgage counselors to discuss their housing and mortgage situation.
These housing counselors will provide a full range of services to qualified homeowners and borrowers. Some of the programs and resources offered include.
- A counselor will meet one on one with the borrower to review a homeowners loan terms, review their financial situation, understand their debt obligations, and get a full background on them.
- All foreclosure alternatives will be explored and analyzed. For example, the counselor will collect the documents that are required for applying to such programs as the federal government Making Home Affordable Program, explore Illinois and local programs, discuss short sales and forbearance, and they will work with them in providing help to finalize any pending loan workout efforts.
- They are a great resource to use to learn more about the process. For example, both Neighborhood Housing Services of Chicago as well as Fannie Mae will provide information of what exactly is foreclosure, and clarify expectations for the foreclosure prevention process. Learn more on Fannie Mae mortgage help programs.
- Additional efforts will be made to counteract local scams, illegit businesses and groups that charge fees for modifications and foreclosure prevention services.
After the interviews and background have been completed, after all documents have been reviewed by the Intake Specialist, you will then meet with a dedicated, experienced, and well trained Housing Counselor to review your file. Together you will discuss your personal financial and housing situation and to also submit the documents to your servicer.
After the review have been completed, your Housing Counselor will provide you with options, information, and assistance during the entire process. The goal is to help you avoid or stop a foreclosure, and to get back on track with your mortgage payments.
You can dial (866) 442-8572 to learn more. The bottom line is that Fannie Mae said these Mortgage Help Centers and face-to-face meetings that are offered will help borrowers and homeowners better understand the range of foreclosure prevention options and mortgage assistance programs that are available to them. They will also help them better manage their relationship with their bank, servicer, and lenders.