The Latest Mortgage Modification Assistance News…

Fannie Mae and Freddie Mac are instituting two new programs to help struggling homeowners with their quest to get modifications. Freddie Mac claims to have helped 250,000 homeowners with loan modifications to date, so the time is better than ever to try and work out your mortgage issues. Here are the new available opportunities:

1.  Borrower Help Centers: Help centers are and will be opening up in numerous areas to assist delinquent Freddie Mac borrowers with loan modifications. Homeowners will be able to visit these centers and get one-on-one counseling and questions answered for free. As of now these centers are located in Chicago, Phoenix, San Bernardino (Southern California) and Washington, DC. Counselors are specially trained in helping with modification and other financial issues. Following are the borrower help centers:

Chicago, IL

Latin United Community Housing Association (LUCHA) 1152 N Christiana Avenue Chicago, IL 60651 773- 489-8484

Chicago Neighborhood Housing Services 1279 N. Milwaukee Ave., 5th Floor Chicago, IL 60642 773-329-4185 (English) 773-329-4181 (Spanish)

California – Inland Empire

Neighborhood Partnership Housing Services (NPHS) 320 W. G Street, Suite 103 Ontario, CA 91762 800-761-6747

Phoenix, AZ

Phoenix NHS 1405 East McDowell Road, Suite 100 Phoenix, AZ 85006 602-258-1659

Chicanos por la Causa 1242 E. Washington Street, Suite 102 Phoenix, AZ 85034-4043 602-253-0838

Washington DC

HomeFree-USA 3401A East West Highway Hyattsville, MD 20782 301-891-4606 (English) 301-891-4607 (Spanish)

2.  Borrower Help Network Phone Assistance: The phone network will be similar to the help centers and will provide counseling and information to delinquent Freddie Mac borrowers.

The counseling provided is labeled “holistic counseling,” which includes an assessment of the borrower’s debt and credit issues. Many community organizations are participating in helping borrowers with these programs, including the National Urban League, National Council of La Raza (NCLR), HomeFree-USA, local Neighborhood Housing Services in Chicago, Phoenix, and Ontario, California, and other local community organizations. Following are the phone assistance location centers. To find out more and get contact number please visit  http://freddiemac.com/avoidforeclosure/.

To get more information on modifications and refinancing options under the Making Home Affordable Program you can also visit http://makinghomeaffordable.gov/. You can also contact HopeNow, a free homeowner help hotline, at 888-995-HOPE.

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