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| If you find your lender or loan servicer to be uncooperative, or you have money debt management questions / problems: consult a nonprofit consumer credit counseling agency. Call (800) 569-4287 or visit http://www.nhl.gov/offices/hsg/sfh/hcc/hcs.cfm to find a local counselor certified by the Department of Housing and Urban Development. January 6, 2011  |  |  | Check out WaysHome on KnowYourOptions.com! DVDs of the video are also available to help with your outreach efforts. |
 | | Introducing WaysHome
Today, January 6, Fannie Mae launched WaysHomeTM, a new interactive video to educate homeowners about their options to avoid foreclosure, motivate them to make the right decisions, and encourage them to seek help. WaysHome is part of Fannie Mae's Know Your OptionsTM consumer initiative to help today's struggling homeowners and is available on KnowYourOptions.com. Overview
A unique and innovative learning tool, WaysHome allows homeowners to put themselves into real-life situations and make decisions -- then see the consequences of these decisions play out in front of them. Through WaysHome, homeowners can: - Participate in an interactive video simulation.
- Select a character and go through the simulation "playing" that character.
- Follow characters as they encounter financial hardships and challenges that affect their ability to pay their mortgage.
- Choose different paths based on real-life situations.
- Experience the positive outcomes or negative consequences of their choices (i.e., if they avoid taking action, foreclosure may be their only option).
- Learn about options that may be available to help.
- Discover the right paths to avoid foreclosure, know their options, and find their way home.
Benefits to You
Our research shows that many homeowners still don't know about -- or understand -- their options to avoid foreclosure. In fact, many homeowners who are seriously delinquent or in foreclosure have little to no contact with their mortgage company. WaysHome is designed to bridge that gap and encourage homeowners to take action before it's too late. |
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August 26, 2010 Another helpful Web site for consumers is Hope LoanPort, which allows struggling homeowners and housing counselors to submit financial documents to mortgage companies and track the status of their efforts to avoid foreclosure. Hope LoanPort was created by Hope Now, a consortium of 12 mortgage companies and 250 counseling agencies. August 11, 2010 | | | Get an overview of key features and site benefits. |
| | New Borrower Web Site Available -- KnowYourOptions.com
Fannie Mae has launched KnowYourOptions.com™, a new consumer education Web site that outlines the choices available to homeowners who are struggling with their mortgage payments, and provides guidance on how they can contact and work with their mortgage company to find solutions. 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;
- 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 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.
Check out KnowYourOptions.com today! |
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