Fannie Mae Opens Mortgage Help Center in St. Louis
Fannie Mae recently opened a mortgage help center in St. Louis to provide free education and counseling services to local homeowners who are facing hardship.
The center will allow distressed homeowners an opportunity to have a one-on-one consultation either in person or over the phone with a housing counselor who will review an individual's mortgage loans and financing options. The counselor will explain to the borrower the different options available to them to avoid foreclosure, such as a loan workout.
The services are being offered in both English and Spanish to families who have a mortgage owned by Fannie Mae. An appointment is required in order for a homeowner to receive assistance with a housing counselor.
This is the 11th center the government-sponsored enterprise has opened nationwide to help distressed homeowners not lose their property to foreclosure.
“Any homeowner with a Fannie Mae loan who is having difficulty paying their mortgage should reach out for help, and they should reach out as soon as possible,” said Jeff Hayward, senior vice president of the national servicing organization at Fannie Mae. “The help center counselors will look at each loan individually with the goal of finding a solution that will help the homeowner avoid foreclosure.”
In addition to providing counseling and access to mortgage education and financial literacy resources, the mortgage help center staff will help homeowners coordinate with their mortgage servicers and ensure an efficient response time. The center will also help to combat mortgage fraud and abuse in the St. Louis area.
The Urban League of Metropolitan St. Louis and mortgage servicers based in this region partnered with Fannie Mae to develop this new help center.
“The housing crisis has hit neighborhoods in St. Louis hard, and we know that many homeowners need assistance,” said James Buford, president and CEO of the Urban League of Metropolitan St. Louis Inc. “Through this initiative, the help center will offer an excellent opportunity for struggling St. Louis residents to find the help they need to maintain their homeownership.”