SOURCE: Freddie Mac

Freddie Mac

February 05, 2013 10:39 ET

Three New Freddie Mac Borrower Help Centers Open in Atlanta, Las Vegas, Los Angeles Metro Areas

MCLEAN, VA--(Marketwire - Feb 5, 2013) -  Freddie Mac (OTC: FMCC) is teaming up with leading non-profit organizations in the Atlanta, Las Vegas and Los Angeles areas to open walk-in Borrower Help Centers where delinquent borrowers can get free and confidential holistic financial counseling designed to help them stay in the homes by pursuing mortgage workouts and avoiding foreclosure. Freddie Mac opened Borrower Help Centers in Chicago, Phoenix, Washington, DC and San Bernardino, CA in 2010. Since 2009 counselors and servicers working with Freddie Mac have helped more than 756,000 borrowers avoid foreclosure through loan modifications, forbearance, repayment plans and other workouts.

News Quote:

Attribute to Dwight Robinson, Senior Vice President - Human Resources, Outreach and Diversity and Chief Diversity Officer, Freddie Mac:

"Freddie Mac's Borrower Help Centers are a proven tool for helping more borrowers stay in their homes and protecting more communities from the destabilizing effects of avoidable foreclosures. We are proud to join with Chicanos Por La Causa, the West Angeles CDC, and the D&E Financial Education and Training Institute to open these new Borrower Help Centers. We are committed to reducing the risk of a family losing their home because they didn't know who to call and trust."

News Background

  • Organizations participating in the new walk-in Borrower Help Centers are the D&E Financial Education and Training Institute in Forest Park, GA; Chicanos Por La Causa in Las Vegas and the West Angeles Community Development Corporation in Los Angeles.
  • Freddie Mac launched its Borrower Help Center effort in 2010, opening centers in Chicago, Phoenix, San Bernardino, CA, and Washington DC.
  • Freddie Mac Borrower Help Centers offer holistic financial counseling that includes mortgage counseling plus help with debt and credit issues that could affect the borrower's ability to stay current on their mortgage after a modification.
  • A complete list of Freddie Mac Borrower Help Centers can be found at http://www.freddiemac.com/avoidforeclosure/who_to_contact_for_help.html#helpcenters
  • Freddie Mac also sponsors a separate Borrower Help Network offering similar holistic counseling over the phone to targeted Freddie Mac borrowers nationwide.
  • To schedule a free appointment at one of the new walk-in Freddie Mac Borrower Help Centers delinquent borrowers should contact them at:

Atlanta Metro Area
D&E, A Financial Education and Training Institute, Inc.
4532 Jonesboro Road
2nd floor
Forest Park, GA 30297
1-877-790-1831 toll-free
770-961-6900 - office
info@depower.org

Las Vegas Metro Area
Chicanos Por La Causa
601 South 10th Street
Suite 105
Las Vegas, Nevada 89101
702-207-1614 - office
www.cplc.org

Los Angeles Metro Area
West Angeles Community Development Corporation
6028 Crenshaw Boulevard
Los Angeles, California 90043
855-543-3440 - office
www.westangelescdc.org

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four homebuyers and is one of the largest sources of financing for multifamily housing. www.FreddieMac.com.

Contact Information

  • CONTACT:
    BRAD GERMAN
    703-903-2645