Fannie Mae is opening an office in Chicago this week to provide hands-on assistance to borrowers who are at risk of losing their homes.
The center is staffed with experienced housing advisors to work with homeowners face-to-face.
These meetings help borrowers "better understand the entire range of foreclosure prevention options and provide an opportunity to work closely with servicers to achieve a prompt resolution," Fannie said.
The GSE opened its first 'Mortgage Help Center' in Miami this February and a second office in Atlanta during August.
Fannie senior vice president Jeff Haywood will be hosting an open house at the Chicago Mortgage Help Center this Thursday, Aug. 26.
In a July 28 speech, Fannie chief executive Michael Williams said these centers are part of the GSE's efforts to reach more homeowners in the some of the hardest hit areas of the U.S.
The CEO said Fannie will be opening more help centers in the fall. A Fannie spokesman said the company is looking at a lot of different markets but the company is not ready to disclose the next location.
