Freddie Helps Unemployed Borrowers in Rural Areas Find Jobs
June 22, 2018
Freddie Mac launched a program to help financially strapped borrowers find jobs in underserved regions, such as the middle Appalachia, that lack employment opportunities. The program is part of the GSE’s three-year duty-to-serve plan. The GSE collaborated with NextJob to create an initiative aimed at both current Home Possible borrowers as well as borrowers looking for a better income to qualify for a loan. Home Possible specifically targets first-time homebuyers and low- to moderate-income borrowers. Borrowers who have lost their jobs, had their hours reduced or face other employment challenges that threaten timely mortgage payments will be able to...