KCCD Hosts Press Conference to Announce National Partnership with Freddie Mac to Save Homeowners from Foreclosure: KCCD is One of Five National Groups Selected

Maheen Qureshi- Corporate Relations & Housing Outreach, Freddie Mac, and Hyepin Im- President & CEO, KCCD, share
the Borrower Help Network that will provide homeowners with solutions to avoid foreclosure.

Los Angeles, CA - On March 3rd, 2010, KCCD hosted a press conference with Freddie Mac to announce their partnership for Freddie Mac's Borrower Help Network (BHN), a proactive outreach initiative to contact delinquent borrowers in order to offer free, confidential services to reach a resolution to their financial distress. The press conference featured an overview of the BHN and the process involved as well as a question and answer session.

Hyepin Im, President of KCCD, stated, "KCCD is pleased to be partnering with Freddie Mac in this unprecedented effort to reach troubled homeowners who have not responded to previous attempts to make contact. KCCD has a proven track record working together with Freddie Mac, and through the BHN we will be able to assist more homeowners than ever across 50 states. Foreclosure is a serious problem in every community and this outreach initiative will allow more homeowners to get connected with the free services provided by KCCD in order to reach a successful resolution to their financial problems. By working with Freddie Mac and its partners, we will be able to expedite the loan modification process and provide homeowners facing foreclosure with resolutions more efficiently. We are excited with the positive results so far and we look forward to further success in this upcoming year."

Maheen Qureshi, Corporate Relations & Housing Outreach, Freddie Mac stated: "We have joined with KCCD and other non-profit organizations across the nation to reach delinquent borrowers with Freddie Mac-owned mortgages who are discouraged by their financial situation or have not responded to previous outreach attempts. We're excited that KCCD and Freddie Mac are working together and building on our great track record of reaching out to the Korean community through national initiatives such as Credit Smart Asian. By working with trusted community intermediaries like KCCD, Freddie Mac is helping more families navigate through these hard times."

KCCD is one of two Asian non-profit organizations, and the only Korean organization, in the BHN. The four other non-profit organizations in the BHN include National Council of La Raza, National Urban League, Boat People S.O.S, and MEDC (Metroplex Economic Development Corporation), Bishop TD Jakes' organization. The BHN is currently a test initiative which will continue throughout the year.

KCCD is a HUD approved counseling agency that has saved over $70 million dollars in assets and offers its foreclosure prevention services free of charge. If you or someone you know needs foreclosure prevention services, please call KCCD at (213) 985-1500 or visit our website www.kccd3300.org.