- Dennis Norman
By: Dennis Norman
Here is some information agents should share with clients that may be struggling to keep up with their payments on their mortgage, or struggling to get through the paperwork and other requirements for a loan modification under the Affordable Refinance Program.
Freddie Mac has launched an effort to help borrowers delinquent borrowers obtain Loan Modifications under the Affordable Refinance Program of the Making Home Affordable Program Freddie Mac has hired a company to come to borrowers homes and help them put together the documents and complete other actions needed to begin their three-month trial payment periods under the Affordable Refinance Program.
The company hired by Freddie Mac, Titanium Solutions, will target late-paying borrowers with Freddie-Mac owned mortgages who have not responded to letters or phone calls from their lenders or those who have responded but need to provide additional information or documents to launch their three-month Home Affordable Modification trial period. Titanium will also help those borrowers who have started their trial periods complete the documentation process to enable them to be converted into final modifications.
Titanium Solutions representatives will provide borrowers seeking Home Affordable Modifications with a wide range of support and expertise from reviewing program requirements, to explaining which documents are needed, to securing signatures and walking them through unfamiliar processes.
To minimize potential fraud by imposters, Titanium Solutions representatives will not accept mortgage payments or any other money from borrowers. Representatives will also carry a copy of their servicers’ solicitation letter the borrower initially received. These letters are specially formatted and include unique information about the mortgage loan.
For more information about Freddie Mac efforts to help borrowers and support Making Home Affordable, visit freddiemac.com/avoidforeclosure.
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