501 (c)(3) non-profit Organization
By Peggy Stillwell on Jul 12th, 2010
Fannie Mae recently announced it has partnered with an organization in an effort to help people in South Florida avoid foreclosure.
The government-backed company is joining with the Neighborhood Housing Services of South Florida to provide free counseling regarding how troubled homeowners can avoid losing their homes. So far, more than 700 people have already been helped by the efforts of housing experts through the Mortgage Help Center.
"Hundreds of struggling homeowners in the Miami-Dade metro area have already benefited from real help and quality customer service from the Mortgage Help Center, operated through our strong local partnership with NHSSF," Fannie Mae executive vice president Terry Edwards said.
While the advice can help with a home loan, consumer credit counseling services may offer assistance to all types of consumers. For example, these firms can analyze a person's finances and establish a spending plan, which can lead to avoiding credit card debt.
Consumer credit counseling services also offer ways to reduce debt, such as consolidation or a debt management plan, which can lead to lower interest rates on cards.