(NAPSM)-A new set of initiatives may help a number of people in at-risk communities avoid foreclosure. The initiatives are aimed at helping the lending community keep struggling borrowers in their homes, assisting prospective homebuyers with purchases, and stabilizing communities.

Experts say such efforts to support at-risk borrowers are particularly important for African-American and Hispanic communities, which are increasingly experiencing the negative impact of credit that is harder to come by and rising foreclosures. Indeed, the Center for Responsible Lending reported that foreclosures will affect 10 percent of recent African-American borrowers.

Launched by Fannie Mae, the new initiatives, known as "The Keys To Recovery," include:

- Refinancing Underwater Borrowers: A new refinancing option for Fannie Mae borrowers deemed to be "underwater," or at risk, that allows for refinancing up to 120 percent of a property's current value.

-Neighborhood Stabilization: A new initiative in partnership with Self-Help that allows families in hard-hit communities to reside in foreclosed properties on a rent-toown basis.

-Jumbo-Conforming Loans: Pricing for new jumbo-conforming loans that will help stimulate the flow of affordable loans to high cost areas by providing rates comparable to those of standard conform ing loans,

-National Down Payment Policy: A new national down payment policy that equalizes down payment requirements across the country, regardless of local market conditions, Fannie Mae is also a member of the HOPE NOW Alliance and a key partner with the Homeownership Preservation Foundation. Borrowers in danger of losing their homes to foreclosure should first call their lender to discuss a new payment plan or loan modification.

Borrowers can also call the (888) 995-HOPE hotline or visit www.995hope.org for information in English or Spanish for more help

"We strongly encourage anyone who is struggling to meet their mortgage payments to get help immediately," said Ken Bacon, Fannie Mae's executive vice president for housing and community development.

To learn more, please visit www.fanniemae.com or call (800) 7FANNIE.

Housing rights activist Angie Goodings of Willington, Delaware takes part in a rally in front of the U.S. Capitol to call on lawmakers to protect homeowners from foreclosures in Washington, DC. Home foreclosures in the U.S. have soared to an all-time high. Many borrowers with subprime loans have seen their initially low interest rates adjusted much higher and are falling behind on payments as a result. (corbis)