“KnowYourOptions.com” Helps Homeowners Facing Foreclosure to Understand the Range of Options Available; Encourages Them to Take Action – and Work with Their Mortgage Company
Many homeowners facing foreclosure still don’t know about – or fully understand – the different options that are available to them. As part of its ongoing efforts to help homeowners, Fannie Mae is launching “KnowYourOptions.com,” a new consumer education website designed to give struggling homeowners a comprehensive resource to find out about the range of options available to them, such as refinancing, loan modifications, short sales or deeds in lieu of foreclosure.
The one-stop, bi-lingual resource provides free, reliable and easy-to-understand information as well as guidance on how to contact and work with their mortgage company or a housing counselor. The site provides interactive tools to help homeowners understand and evaluate the mortgage option that best fits their needs.
· “One-Stop” Site Features: From virtual assistants to calculators to financial check lists, tools for consumers at every point on the homeowner spectrum.
· Two Distinct Paths for Struggling Homeowners: Understanding your options whether you want to stay in your home or are ready to leave.
· How to be Proactive: Homeowners who are proactive about working with their mortgage company or a housing counselor have a better chance of finding a solution that allows them to keep their homes.
· Additional Resources and Local Assistance: Where consumers can go for more help and one-on-one local counseling.
· Beware of Scammers: By knowing and understanding their options, homeowners can help protect themselves against those who prey on fear and misinformation.
To learn more, visit www.KnowYourOptions.com