Freddie Mac Partners with Counselors
Chicago Tribune
January 26, 2010
Podmolik, Mary Ellen
Freddie Mac is planning on opening two help centers in Chicago for homeowners with delinquent mortgages and unsuccessful loan modification experiences. Dwight Robinson, Freddie Mac's senior vice president of corporate relations and housing outreach, said the mortgage concern would offer consumers "a trusted intermediary" to walk them through the modification process. Several hundred of the area's borrowers are at least 31 days late in paying their Freddie Mac-owned mortgages; and Michael van Zalingen, director of homeownership services for Neighborhood Housing of Chicago, is hoping the help centers can prevent some of those delinquencies from progressing to foreclosure. Outreach programs are also being tested in Arizona, Washington, D.C., and California. Fannie Mae, which holds even more mortgages than Freddie Mac, may be creating a similar effort.
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