Consumer

Fannie Mae Opens Its Phone Lines To Help Homeowners Facing Foreclosure

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(File photo.  Credit:  Robyn Beck/ AFP/ Getty Images)

(File photo. Credit: Robyn Beck/ AFP/ Getty Images)

Michelle Durham Michelle Durham
She's reported from inside a burning building, from the flight deck of...
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By Michelle Durham

PHILADELPHIA (CBS) — The government-back mortgage clearinghouse Fannie Mae is launching an awareness campaign for people facing possible foreclosure.

Nicole Robinson, a spokeswoman for Fannie Mae, says it’s never too late to try to save your home.

“Even if you have already started to receive paperwork to start the foreclosure process — and it is a process — you still have the ability to reach out and get help,” she tells KYW Newsradio.

Today only, and only until 8pm, Robinson says homeowners can call 1-866-989-6931 (toll-free) for advice.  Robinson hopes homeowners in trouble will also take advantage of free help from a HUD counselor.

“A HUD-approved housing counselor will work on your behalf with the servicer so you don’t have to contact the bank, back and forth.  You will work with one person who would be your advocate.  This is someone who does this for a living. They know all the programs. They know how the documents should be,” she says.

Hear Michelle Durham’s full interview with Nicole Robinson of Fannie Mae in this CBS Philly podcast…

Download podcast for listening anytime

For more information, go to the Fannie Mae web site www.knowyouroptions.com.

For a list of HUD-approved mortgage counselors, go to hud.gov.

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