HomeFree-USA Announces Latest “Mortgage Solutions Now” Loan Modification Event

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Distressed homeowners to begin in-person loan modification process, meet with major lender representatives; LoanPort™ online system available to assist homeowners; Loan Scam Alert information and redress available

HomeFree-USA (http://www.homefreeusa.org), a HUD-approved, nonprofit homeownership development organization, today announced its latest loan modification event, “Mortgage Solutions Now,” a two-day session at its national headquarters. Representatives from several major mortgage servicers will be present to meet with borrowers having trouble maintaining their mortgage payments.

Dates, times, location and contact for the HomeFree-USA loan modification event:

  • Friday, June 4 and Saturday, June 5
  • 9:00 am – 7:00 pm
  • HomeFree-USA National Headquarters: 3401A East West Hwy. Hyattsville, MD 20782, corner of East West Hwy and Editor’s Park Dr., across from The Mall at Prince George’s
  • 301-891-8423; http://www.homefreeusa.org

Organizations that will have representatives at the event include:

  • Fannie Mae
  • Freddie Mac
  • Bank of America
  • GMAC
  • OneWest
  • SunTrust
  • Wells Fargo
  • Chase
  • Citibank
  • Saxon

Participating organizations have sent information and invitations to numerous borrowers in the Metro DC area, including Fannie Mae who has dispatched 17,000 such communications. WHUR-FM is continuing its public service partnership with Fannie Mae and promoting the event.

“Fannie Mae is committed to help distressed borrowers avoid foreclosure and find workout solutions,” stated Michael T. Hernandez, Vice President, Fannie Mae. “Working with our partners and servicers, we continue to support and participate in borrower events across the country so that struggling homeowners can connect directly and in-person with the lending professionals who can assist them.”

During the event, homeowners will first meet with HomeFree-USA homeownership advisors to discuss financial/employment status, obtain a credit report, and establish a budget that includes a modified and affordable monthly loan payment amount. An attorney will be available for legal counsel specific to homeowner rights and foreclosures. Attendees will then speak to representatives from servicers to submit and discuss modification proposals. Spanish-speaking specialists will be available.

HomeFree-USA will be using the HOPE LoanPort™ online program to process borrowers eligible for the Obama Administration’s Home Affordable Modification Program and other standard modification programs. HOPE LoanPort ™ captures information about borrowers’ situations and assembles borrowers’ documents in an online file to overcome problems with lost or delayed paperwork that has often stymied loan modification efforts.

In addition, the event will raise awareness of the Loan Scam Alert Campaign. The campaign is designed to educate homeowners about the prevalence of loan modification scams in the marketplace today. Homeowners who have been victims of scams will be able to file a complaint.

Prior to their appointments, homeowners should complete a Loan Modification Data Intake Form and use the Loan Modification Checklist to gather all important documents needed at their appointments:

  • Most recent mortgage statement
  • Pay stubs for the last two months
  • Bank statements for the last two months
  • 2008 tax return
  • IRS Form 4506T
  • Hardship letter (Must include answers to these questions):

o    Why are you having trouble paying your mortgage?
o    What are you doing about bringing your mortgage current?
o    What do you want your lender to do?
o    How long have you lived in your home?
o    Do you want to keep your home?

“This is our largest gathering to-date of mortgage servicers. These are the companies you need to talk to modify your mortgage and keep your home. We will help you prepare for that face-to-face meeting and guide your modification submission every step of the way,” said Marcia Griffin, founder and president of HomeFree-USA. “We will also be using the remarkable HOPE LoanPort™ system. LoanPort makes sure you don’t get ‘lost in the shuffle’ and keeps your modification negotiation on track.”

Ms. Griffin concluded, “HomeFree-USA can help you keep your home, but only if you take the first step. Take that step and RSVP for our foreclosure prevention event on June 4th and 5th.”

About HomeFree-USA:
Established in 1995, HomeFree-USA is a minority-founded, 501(c)(3) not-for-profit organization specializing in homeownership counseling and foreclosure intervention. It is one of just 15 HUD-approved organizations currently receiving congressional funds to act as an intermediary between homeowners and lenders to prevent foreclosure. Based in the greater Washington, DC area with regional offices in Atlanta and Kansas City, HomeFree-USA provides services across the country through its 80-plus network of faith- and community-based nonprofit partners. The HomeFree-USA network represents 15 million homeowners and homebuyers and enjoys a 0% foreclosure rate among families that participate in its pre- and post-purchase counseling activities. To learn more, visit http://www.homefreeusa.org.

Contact:
Jason Karpf
HomeFree-USA, National Media Relations
805-413-2454; 805-558-9000

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