Digital News Report – Fannie Mae launched a new website to help struggling homeowners by providing online information to help them find solutions. The online resource is provided in both English and Spanish and provide ways to contact their mortgage company and to work with them. Fannie Mae tools are to help the homeowners find alternatives to foreclosures.
On their KnowYourOptions.com website you are greeted with a video explaining that there are alternatives to home foreclosure. One popular option is the Home Affordable Modification Program (HAMP) which offers home loan modifications for qualifying homeowners. Other topics discussed on this website is mortgage refinancing, repayment plans, forbearance agreements, and Deed-for-Lease™. There is also information about short sales and deeds-in-lieu are also discussed on their website.
The good news is that people that are struggling and can’t quite qualify for the government home loan modification program, might still be able to save their home from foreclosure and this website walks through many alternatives.
The KnowYourOptions.com website also has calculators, informative videos, and helpful forms and financial checklists.
By: Victoria Brown