2011 Corporate Philanthropy
Single mother Anitra Byers nearly lost her home to foreclosure after falling behind on her mortgage payments and becoming the victim of a scam. Today, Byers is in her home, on top of her bills, and building a better future for her family—thanks to Freddie Mac’s partnership with HIP (Housing Initiative Partnership, Inc.) in Prince Georges County, MD.
HIP counselors were able to stop the sale of her townhome just days before it was scheduled to be sold, report the scam to law enforcement, and finally help byers get a mortgage modification from her bank so she and her two children could stay in their home.
Byers is now enrolled in HIP’s bounce back program, a unique financial education program for borrowers who received a modified mortgage. Bounce back’s counseling and monthly workshops are helping byers and other participants reduce their debt, build their assets, and get back on the path to financial stability.
When Byers came to bounce back she was barely able to pay all of her monthly bills. But after meeting with her counselor, she was able to end the paycheck-to-paycheck cycle by creating a spending plan that allows her to pay all her bills on time, pay off her debt, and save for her family. “I have two children, nine and 13, and this program has made me much more hopeful and confident about our future,” said Byers.
Freddie Mac invests in nonprofits that help prevent foreclosures, create and preserve affordable housing, and strengthen communities. HIP is part of the capital Area Foreclosure network that Freddie Mac helped launch in the Washington region so that agencies can better serve struggling borrowers and renters affected by the foreclosure crisis.
These philanthropic investments in the community complement Freddie Mac’s mission to support the housing market, and to help borrowers avoid foreclosure.
Corporate Headquarters: McLean, Virginia
Primary Business: Mortgage Finance