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Date: Thursday, March 24, 2011 - 9:00 AM - 6:00 PM
Fannie Mae to Hold 3 Day Foreclosure Prevention Event with Frameworks CDC, a local HUD approved Housing Counseling Agency to Help Distressed Homeowners
The home foreclosure rate in Central Texas continues to grow. Overall foreclosure postings for 2011 are up 3% over the same period last year. In the four county area around Austin in Bastrop, Hays, Travis and Williamson counties, 5565 homes have been posted for foreclosure in the first four months of 2011.
There are 6000 borrowers in the Austin region who are delinquent on Fannie Mae mortgage loans and potentially facing foreclosure.
In response, Fannie Mae is coming to Austin for the first time to work with Framework Community Development Corporation and meet with homeowners who have delinquent Fannie Mae mortgage loans.
Fannie Mae is a government sponsored enterprise (GSE) chartered by Congress. Rather than making home loans directly to consumers, Fannie Mae works with mortgage bankers, brokers and other primary mortgage market partners.
As a result, your loan may be owned by Fannie Mae and you do not realize it because your payments are made to a loan servicer such as Bank of America, JP Morgan Chase, etc. Fannie Mae representatives will meet with delinquent borrowers at Frameworks CDC, 701 Tillery St., Suite A-6B, Austin, Texas 78702, for all three days.
Fannie Mae is the ultimate decision maker on whether a loan modification should be made to solve a mortgage delinquency or pending foreclosure. The first thing that Fannie Mae representatives are required to do is to determine if the borrower qualifies for the federal Making Home Affordable program which could result in:
A reduced interest rate and lower monthly mortgage payment If the borrower does not qualify for the Making Home Affordable program, then other Fannie Mae mortgage solutions are considered.
If you are one of the 6000 borrowers who received a notice in the mail from Fannie Mae, do not miss this opportunity to resolve the delinquency.
Call now for an appointment (512) 385-1500
If you are not sure if you have a Fannie Mae mortgage loan, call Frameworks at (512) 385-1500 for help to determine if you have a Fannie Mae mortgage loan.
Call (512) 385-1500 if you are having problems keeping up with your mortgage or are being threatened with foreclosure.