Fannie Mae Opens Help Center in Miami

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Fannie Mae’s first regional help center for distressed borrowers with mortgages has a new home in Miami.

This center is the first of many to open nationwide. It houses advisors that will meet with borrowers face-to-face to discuss and implement loss mitigation strategies in an attempt to avoid foreclosure.

Fannie Mae is working with major mortgage servicers, as well as civic and community leaders from Miami-Dade County to launch and run the center. The center’s staff can review borrowers’ loans as well as help them prepare a Making Home Affordable workout plan application.

Fannie Mae executive vice president Terry Edwards states:

“The center in Miami and our future centers across the country will build on Fannie Mae’s long-standing community development network and strong partnerships with local governments nationwide. 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.”

Officials hope the center will help deter local scam artists that charge fees for modifications and foreclosure prevention services.

Miami-Dade County commissioner Dorrin Rolle concludes:

“Many homeowners don’t realize what their options are before or during the foreclosure process. There are ways to keep your home, and my thanks go to Fannie Mae for assisting families in understanding their mortgage situations are not hopeless.”


This article is brought to you from House Wire.