McLean, VA – Virginia Governor Timothy M. Kaine, Freddie Mac (NYSE: FRE), and the Virginia Foreclosure Prevention Task Force are joining forces in June to offer free mortgage clinics designed to help more Virginia homeowners avoid foreclosure.
Kaine created the task force earlier this year to protect and preserve homeownership for Virginia’s working families and to help prevent future foreclosure problems. As a member of the task force, Freddie Mac will help promote and host the clinics in five locations around Virginia between June 14 and June 21.
“In this time of uncertainty in the housing industry, Freddie Mac provides much needed stability and liquidity to the housing finance system,” said Governor Kaine. “I appreciate the company’s commitment to solutions as a member of the Virginia Foreclosure Prevention Task Force and as a co-sponsor of these mortgage clinics around the Commonwealth.”
“Freddie Mac is proud to work with Governor Tim Kaine on solutions to the immediate housing challenges facing many Virginians by providing the public with free access to housing counselors and practical lessons on avoiding foreclosure,” added Jeff Markowitz, vice president of Industry and State Relations at Freddie Mac and Virginia Foreclosure Prevention Task Force member.
The clinics will include general foreclosure prevention information, as well as individual foreclosure counseling sessions with certified housing counselors trained in loss mitigation and foreclosure prevention. Clinics will last approximately 90 minutes, including a 30-minute general session and the free foreclosure counseling.
“These free mortgage clinics will benefit communities across Virginia,” said Susan Dewey, Executive Director of the Virginia Housing Development Authority. “Attendees will learn about the importance of contacting their lender at the first sign of trouble, working with a housing counselor, knowing their foreclosure prevention options, prioritizing spending plans and avoiding foreclosure scams.”
Walk-ins are welcome at the clinics, however space for the individual counseling sessions is limited and pre-registration is strongly encouraged. To register for a clinic counseling session, please visit the Virginia Foreclosure Prevention Task Force website at www.VirginiaForeclosurePrevention.com. The website also offers important foreclosure prevention tips and provides a list of Virginia certified housing counselors who can help Virginians assess their situation and offer specific suggestions.
Virginia Mortgage Clinics will be held:
June 14, 2008 – 8:30 a.m. to 5:00 p.m.
Greater Richmond Convention Center
403 N. Third St., Richmond, VA
June 14, 2008 – 8:30 a.m. to 5:00 p.m.
Larkspur Middle School
4696 Princess Anne Rd., Virginia Beach, VA
June 14, 2008 – 8:30 a.m. to 5:00 p.m.
Roanoke Higher Education Center
Claude Moore Education Complex
108 N. Jefferson St., Roanoke, VA
June 21, 2008 – 8:30 a.m. to 5:00 p.m.
Chantilly High School
4201 Stringfellow Rd., Chantilly, VA
June 21, 2008 – 8:30 a.m. to 5:00 p.m.
Northern Virginia Community College – Woodbridge Campus
15200 Neabsco Mills Road, Woodbridge, VA
Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible more than 50 million times, ensuring financing for one in six homebuyers and more than four million renters.
