Wealth Preservation Programs

To support putting people in homes they can afford and keep, Freddie Mac is providing education and awareness campaigns as well as outreach efforts to allow homebuyers to protect their investment and grow wealth through equity.

Don't Borrow Trouble Campaign Fights Predatory Lending Practices

Abusive and predatory lending practices precipitate foreclosures, forces people out of their homes, and destroys the fabric of communities. Don't Borrow Trouble is an anti-predatory lending campaign which combines extensive public education with comprehensive counseling services designed to help homeowners avoid scams and resolve any financial difficulties they may be experiencing. It is the most comprehensive and successful consumer awareness/foreclosure prevention campaign in America. There are now three dozen Don't Borrow Trouble campaigns nationwide.

For each of the localities that have launched a Don't Borrow Trouble campaign, Freddie Mac has provided seed funding, the assistance of a marketing consultant and a media toolkit in English and Spanish. We have also funded onsite training provided by the National Consumer Law Center to prepare members of the local referral networks to respond to calls. Don't Borrow Trouble was pioneered in Boston by Mayor Thomas M. Menino and the Massachusetts Community & Banking Council (MCBC) and is being expanded nationally by Freddie Mac. More than 100,000 consumers across the United States have contacted local Don't Borrow Trouble campaigns and received assistance with predatory lending issues.

In 2004, Freddie Mac arranged for Don't Borrow Trouble campaigns in 13 states to have access to the National Community Reinvestment Coalition's Rescue Fund, which provides refinanced mortgages to borrowers who are victims of predatory lending.

For more information about National Community Reinvestment Coalition’s Consumer Rescue Fund: www.fairlending.com.