Fannie Mae has launched a new website, KnowYourOptions.com, an online resource that outlines the available options to homeowners who are struggling with their mortgage payments.
The online resource, which offers reliable and easy-to-understand information in both English and Spanish, expands on Fannie Mae’s ongoing efforts to help struggling borrowers find alternatives to foreclosure. Key features of KnowYourOptions.com include:
- an interactive Options 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, forbearance, and modification;
- videos featuring real homeowners discussing how they received help and housing counselors providing advice;
- next steps and helpful forms, including a financial checklist and contact log to help borrowers be prepared when contacting their mortgage company or housing counselor.
KnowYourOptions.com provides homeowners who are having trouble paying or recognize they can no longer afford their mortgages with detailed information on
- refinancing,
- repayment plans,
- forbearance,
- loan modifications,
- Deed-for-Lease
- short sales,
- deeds-in-lieu; and more
As Certified Distressed Property Expert’s we can identify all possible options and, when possible, assist you in the quick execution of a short sale transaction.
Please feel free to give us a call anytime at 757 254 8136 or send us an email at John@MrWilliamsburg.com and we will be happy to discuss your options with you.
Filed under: Foreclosures/ REO, short sales, williamsburg va
My wife and I are looking at not being able to pay our mortgage this month. It came suddenly it seems and her business is simply off this month (August) and I work as a driver with Social Security as my only contribution.
We are in the throes of putting the house on the market, but it is taking some time as it is a large property.
What options do we have? The payment is ridiculously high $3200 per month and we are at the end of our savings.
Thank you for any advice you might have…
Carl