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Post-Modification Financial Coaching

Having your home loan modified to be more affordable is a positive step towards improving your financial future. If you’ve taken that step, it’s important to keep things moving in the right direction. Even with a loan modification, you may still have some financial challenges. Take advantage of additional tools like financial coaching to help with your financial success.

Free financial coaching may be available to you, if you’ve been approved for a trial modification for your Fannie Mae home loan. Eligible homeowners will work with a financial coach to create an action plan that meets their specific financial needs.

A dedicated coach will be available at no cost to homeowners for up to 12 months. The service is absolutely free as part of Fannie Mae’s commitment to help homeowners learn more about credit and debt management.

Does Fannie Mae own your home loan?

If you’re unsure whether Fannie Mae owns your loan, find out with the Loan Lookup Tool.

There are several benefits to having your finances in order – timely debt repayment, improved credit scores, and savings for things like emergencies, vacations, home improvements, and a secure retirement.

When you participate in post modification financial coaching, you’ll work with a dedicated expert to learn about:

  • Reducing debt and practical solutions for managing expenses
  • Budgeting tips, including the best ways to manage household finances, mortgage payments, and other financial obligations
  • Developing a personalized action plan to help you meet your short- and long-term financial goals

Plus, you can customize the program to meet your specific needs by having your coach cover the financial topics that are most important to you.

It pays to take advantage of this free program made available by Fannie Mae. Many homeowners who have participated agree that their coach really cared about their specific challenges and shared helpful ways to best manage their income and expenses.

How does it work?

Free post-modification financial coaching is available for up to 12 months by phone and internet for eligible homeowners.

To be eligible a homeowner:

  1. Must have a loan owned by Fannie Mae (Use the Loan Lookup Tool to find out)
  2. Must have been approved for a trial modification by your mortgage company;
  3. Should have received a letter from your mortgage company inviting you to participate in post modification financial coaching; and
  4. Cannot have previously received free post modification financial coaching offered by Fannie Mae.

Once you confirm that Fannie Mae owns your loan, contact your mortgage company to discuss your qualifications. If you meet the requirements, your servicer will connect you with a financial coach to get started.

It’s not too late

If you received an invitation from your mortgage company about free financial coaching but never responded or you scheduled an appointment with a coach but didn’t keep it, you could still be eligible for the free service. Contact your mortgage company for the next steps.

Help for Non-Fannie Mae Homeowners

If your mortgage is not owned by Fannie Mae, financial coaching may still be available to you through other programs and counseling services. Visit HUD.gov and MakingHomeAffordable.gov for information. Also, contact your mortgage company for any resources that may be available.

Check this list to see if your mortgage company is participating in Fannie Mae’s post modification coaching program and then contact them to discuss your options.

Bank of America JP Morgan Chase PNC
Citi Loan Care RBS
Everbank M&T Bank Regions
Fifth Third Nationstar Santander
Ditech Nationwide Seterus
Huntington Ocwen SunTrust
PHH US Bank Wells Fargo
Quicken Loans Cenlar HSBC
Central Mortgage    

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