Foreclosures hurt borrowers and their families, their neighborhoods, and the taxpayer. No borrower should face foreclosure without knowing what other options are available.
Since 2010, more than a million consumers have turned to KnowYourOptions.com for information about ways to avoid foreclosure. Fannie Mae’s consumer website features first-person stories and a variety of resources to guide families through options that can help them keep their homes.
This month, KnowYourOptions.com has unveiled a wealth of new content aimed at a broader audience, including those interested in buying or renting a home. Our goal is to offer a one-stop resource for renters, prospective homebuyers, and homeowners struggling with a mortgage.
Consumers will find guidance and financial calculators to help them anticipate the cost and responsibilities of home ownership. And useful information about the rental application process will be helpful for prospective renters.
For homeowners struggling with their mortgage, redesigned navigation and search functions guide them to a variety of foreclosure options, including the Home Affordable Modification Program (HAMP) and the Home Affordable Refinance Program (HARP). A dedicated military section allows service members to find information about Fannie Mae’s military hardship program and other programs and initiatives in place to address challenges faced by military families.
In our WaysHome™ interactive video and in other videos, real homeowners talk about their challenges, and housing counselors share their guidance.
Homeowners who want to know if Fannie Mae owns their loan can use our Loan Lookup tool. It offers customized results, including the date that Fannie Mae acquired their loan and potential options to avoid foreclosure.
KnowYourOptions.com also offers visitors a direct link to our 12 Fannie Mae Mortgage Help Centers, where housing counselors offer free personal loan workout assistance. More than 500 site visitors request Help Center assistance each week.
Fannie Mae is committed to helping consumers make successful, sustainable housing choices. We invite servicers, lenders, and housing counselors to help us share valuable housing information by linking their websites to KnowYourOptions.com.
Senior Vice President, National Servicing Organization
October 2, 2012
The views expressed in these articles reflect the personal views of the authors, and do not necessarily reflect the views or policies of any other person, including Fannie Mae or its Conservator. Any figures or estimates included in an article are solely the responsibility of the author.