New Tool Helps Homeowners Navigate Expanded Relief Options
Today, homeowners visiting FreddieMac.com looking for help with their mortgage will have a better experience in navigating and understanding available relief options thanks to the Mortgage Help Navigator – a new online tool that steers borrowers to information about options that may best meet their personal circumstances. Over the past 18 months, we greatly enhanced and expanded our foreclosure prevention policies and programs so we designed the Mortgage Help Navigator to help ensure that homeowners are learning about the right ones for their individual needs.
This is part of our overall strategy to optimize outcomes for borrowers, which means we work with our sellers and servicers to find the best possible solutions for struggling homeowners. We exhaust every option to keep a borrower in their home, but when that’s not possible we have a number of options to help them exit gracefully from their obligation. We’re doing this by:
- Expanding relief options, including two new loan modification programs.
- Enhancing and simplifying programs to streamline processes and reduce documentation requirements and timelines. This helps save time and money for our servicers, too.
- Responding to unique needs and situations such as special mortgage relief options for service members and temporary relief for homeowners impacted by natural disasters.