Fannie Mae is working to alleviate the housing crisis by offering a new option called HomeSaver AdvanceTM.

HomeSaver Advance is designed to help qualified borrowers bring delinquent mortgages current and keep their homes. With HomeSaver Advance, servicers can now offer an unsecured, personal loan that will enable a qualified borrower to cure the payment default on a mortgage loan that Fannie Mae owns or has securitized, with fewer up-front costs and generally in less time.

“This loan can offer these borrowers another alternative, and help prevent a temporary setback from becoming a foreclosure," said Mike Quinn, Fannie Mae Senior Vice President for Single-Family Credit Risk Management.

For more information, visit www.fanniemae.com.

Ohio Housing Finance Agency is also helping homeowners with the Opportunity Loan Refinance Program. This program provides an affordable 30-year, fixed-rate financing alternative to borrowers who have a current mortgage that is no longer suitable for their financial situation. See www.ohiohome.org/refinance/default.htm for more information.

For more information on preventing a foreclosure, go to the new Ohio foreclosure prevention effort, Save the Dream.

• Foreclosure Assistance Program Gains National Attention
• Loan Servicers Sign Compacts to Assist Ohioans in Avoiding Foreclosure
• OHFA ANNOUNCES LOWER HOMEBUYING RATES FOR OHIO HEROES
• Editorial: Lawyers should volunteer to give homeowners in foreclosure help
• Lawyers urged to give free help in foreclosure cases

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