Late Paying Borrowers ~ get your documents together FIRST... message from Freddie Mae (youTube style) .. click in

Isn't it funny how we didn't hear much from Fannie Mae, Freddie Mac and even HUD during the 2004-early 2007 - and now they are in the headlines almost daily! Folks, they are here to stay this time.....youTube style! Click in on it and see how the information can be useful.

Well Freddie Mac has some valuable information that can help the "underwater" borrower/homeowner find their way to communicate better with their mortgage servicer when they make that call in an attempt to save their home from foreclosure:

If you are or you know someone that is a Late-Pay Borrower, Underwater, pre-foreclosure procedure tell them about this quick little video that can be of benefit to them. Key documents that borrowers should have on hand to help reduce the frustration of having to reduce repeated call, delays and possibly missing the opportunity to take advantage of the options that could be possible for them. The new Freddie Mac video, "Stop Foreclosure: Documents Your Lender Needs to Help You," Click here. It shows step-by-step which documents borrowers should have on hand when they call their servicer. These documents can cut the time a servicer will need to understand the borrower's situation, determine his or her eligibility for a workout, and process the application.

This video will point out that the following documents/information will be necessary for your Mortgage servicer to have - so get them ready and them on hand when you are talking to them:

These documents are also required if you are planning on doing a short sale.

Here are some handy links:Making Home Affordable Program (En Espanol)
HUD-Approved Counseling Agencies (En Espanol)
Avoiding Foreclosure (En Espanol)
Freddie Mac Supports the Housing Recovery

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