Freddie Mac Video Shows Borrowers How To Reduce Repeat Calls

Freddie Mac posted a new video on YouTube.com that shows late-paying borrowers how gathering a few financial documents before calling a mortgage servicer can cut the time needed to determine their eligibility and process their application for a loan modification under President Obama's Making Home Affordable program (www.MakingHomeAffordable.gov) or Freddie Mac's other workout initiatives (FreddieMac.com/avoidforeclosure). The new Freddie Mac video, "Stop Foreclosure: Documents Your Lender Needs to Help You," can also be seen on Freddie Mac's YouTube page (http://www.youtube.com/FreddieMacWeb). It shows step-by-step which documents borrowers should have on hand when they call their servicer.Key documents: * Most recent mortgage statement* Pay stubs/other documents showing household's monthly pre-tax income* Most recent tax return* Second loan/home equity line of credit statements* Balances and minimum monthly payments on credit cards, loans or other debt. * Short, concise description of the financial hardship causing a mortgage delinquency. Produced for Freddie Mac