New Government Home Mortgage Loan Modification Program
Freddie Mac
Freddie Mac and 13 national and local non-profit organizations recently announced the launch of Freddie Mac Borrower Help Centers. The centers are designed to encourage delinquent borrowers to pursue mortgage workouts. At the centers, Freddie Mac borrowers will receive free, confidential one-on-one mortgage counseling. The company also is launching a separate Borrower Help Network which will offer similar counseling services over the phone to targeted Freddie Mac borrowers.
Delinquent borrowers with a mortgage owned by Freddie Mac can schedule free appointments by contacting the Borrower Help Center in their area.
To reach distressed borrowers located outside of the initial target areas, Freddie Mac also is launching a separate Borrower Help Network consisting of eight national and local non-profit organizations. Together they are launching a national phone campaign to make contact with delinquent Freddie Mac borrowers who have stopped responding to their lenders. Counselors will provide free counseling, and help borrowers explore and understand their mortgage modification options.
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Why are we trying to help those who couldn’t help themselves in the first place? This makes no sense! Let them fall so that it evens out to those who can afford a mortgage!
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