Neighborhood Housing Services of South Florida and Fannie Mae Provide Update on Mortgage Help Center
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Neighborhood Housing Services of South Florida and Fannie Mae Provide Update on Mortgage Help Center

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MIAMI, FL – July 9, 2010 – (RealEstateRama) — More than 700 Miami-Dade metro area mortgage borrowers seeking to avoid foreclosure have received assistance from the Fannie Mae Mortgage Help Center in the first three months of operation. The Mortgage Help Center is a partnership between Fannie Mae (FNMA/OTC) and Neighborhood Housing Services of South Florida (NHSSF), and offers free mortgage and financial counseling to homeowners who may be in default or struggling to make monthly payments.

Experienced on-site housing counselors helped 140 homeowners with Fannie Mae-owned mortgages stay in their homes by completing the necessary documentation required by servicers to qualify for loan modifications or other foreclosure prevention programs. Other homeowners receiving assistance from counselors at the center remain in the process of having their documents collected, reviewed and submitted, or have received guidance on a graceful exit strategy.

The Mortgage Help Center combines the efforts of NHSSF, Miami-Dade County and major mortgage servicing partners.

“The direct connection between the Mortgage Help Center and Fannie Mae and other servicers allows us to target a faster turnaround on solutions for borrowers,” said Arden Shank, President and Chief Executive of NHSSF. “This contrasts sharply with stories of borrowers who have spent six-months or more just to make contact with their lenders.”

“Hundreds of struggling homeowners in the Miami-Dade metro area have already benefited from real help and quality customer service from the Mortgage Help Center, operated through our strong local partnership with NHSSF,” said Terry Edwards, Fannie Mae’s Executive Vice President. “The Mortgage Help Center is providing homeowners who are struggling to make their mortgage payments, or who foresee a potential financial hardship, with free access to information and services that can assist them in making the decision that is most appropriate for their circumstances.”

The Mortgage Help Center is available by appointment only and borrowers wishing to schedule a visit should call Toll-Free at (877) 208-3652. Certified housing counselors speaking English, Spanish and Creole are available by appointment. Additional information is available at www.fanniemae.com/help-center.

Homeowners can determine if they have a Fannie Mae loan through an online tool at www.fanniemae.com/loanlookup or by contacting Fannie Mae directly at 1-800-7FANNIE.

Homeowners whose mortgages are not held by Fannie Mae are encouraged to contact Neighborhood Housing Services of South Florida at (305) 751-5511, the Homeowners HOPE™ Hotline at (888) 995-HOPE or one of the other local HUD-approved counseling agencies in South Florida for help in avoiding foreclosure.

About Neighborhood Housing Services of South Florida — NHSSF

Founded in 1978, NHSSF is a leading force in empowering low-income consumers to achieve and maintain homeownership, revitalizing neighborhoods and creating affordable housing in South Florida. A 501 (c) 3 non-profit organization, NHSSF is a Chartered Member of the NeighborWorks® Network, a certified Community Development Financial Institution (CDFI), a HUD-Approved Housing Counseling Agency, a Florida-licensed Mortgage Lender and Real Estate Brokerage. In February 2010, the Department of Housing and Urban Development (HUD) awarded NHSSF a $90 million Neighborhood Stabilization Program grant to acquire and rehabilitate foreclosed single- and multi-family properties and make them affordable to low-income families. Further information on NHSSF is available at www.nhssf.org.

About Fannie Mae

Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America’s secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America.

Fannie Mae Resource Center Telephone 1-800-7FANNIE
(1-800-732-6643)

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