Hacienda CDC announces Fannie Mae Mortgage Help Network partnership

Press Release

Contact: Catherine Kes, Housing Director (503) 961-6415 / ckes@haciendacdc.org

For Immediate Release
Date: Dec. 14, 2011

Homeowners will better understand their options and see faster resolutions

PORTLAND, Ore. – Today, Hacienda Community Development Corporation announced that it has partnered with Fannie Mae to become part of its Mortgage Help Network (MHN), providing Oregon homeowners with increased access to foreclosure prevention assistance. Through this partnership, distressed homeowners can achieve faster decisions based on their individual mortgage situation. On average, homeowners can expect a decision within 30-60 days with Hacienda CDC’s unique partnership with Fannie Mae. This is the first partnership of its kind in Oregon.

Hacienda CDC’s homeownership department currently provides free, quality education and counseling for home buyers and existing homeowners, as well as access to financial assistance options including down payment assistance and the Individual Development Account (IDA) matched savings program. Under the Fannie Mae partnership, homeowners facing obstacles in making their loan payments can work with Hacienda’s HUD-certified counselors to determine which workout option offered by Fannie Mae will work best for their situation.

“This is a rare and extraordinary opportunity for our clients,” says Hacienda CDC’s Executive Director Victor Merced. “Hacienda will assist clients at a more efficient rate through our partnership with Fannie Mae. By preventing foreclosures we can help provide stability to families and communities.”

Hacienda develops affordable housing and builds thriving communities in support of working Latino families and others in Oregon by promoting healthy living and economic advancement. For more information, visit www.haciendacdc.org