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Know Your Options
Fannie Mae has launched knowyouroptions.com , a new consumer education Web site that outline th choices available to homeowners who are struggling with their mortgage payments, and provides guidance on how they can contact and work with thier mortgage company to find solutions
The online resource, which offers reliable and easy-to-understand information in both English and Spanish, expands of Fannie Mae's ongoing efforts to help struggling borrowers find alternatives to foreclosure. Key features of KnowYourOptions.com include:
- an interactive Option Finder to help homeowners identify options that might be right for their situation;
- calculators to help borrowers understand how many of the options work, including refinance, repayment, forebearance and modifications;
- videos featuring real homeowners discussing how they received help and housing counselors providing advise;
- a virtual assistant to walk homeowners through key areas of the site; and
- next steps and helpful forms, including a financial checklist and contact log to help borrowers be prepred when contacting their mortgage company or housing counselor.
KnowYourOptions.com provides homeowners who are having trouble paying or revongize they can no longer afford thier mortgages with detail information on
- refinancing,
- repayment plans,
- forebearance
- loan modifications
- Deed-for-Lease,
- short sales
- deeds-in-lieu; and more
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