In this volatile real estate market we’ve been experiencing for the last few years, we’ve all been affected by it in some way or another. With most of us upside down on our homes, many have fallen on hard times unable to keep up with their monthly mortgage obligations due to the current economic downturn and now are on the verge of loosing their homes to foreclosure. So where is one to go for help in these stressful times?
There are many non-profit organizations aimed and helping struggling homeowners deal with the reality of a looming foreclosure. Unfortunately, with the abundance of scams which prey on those who need help the most, it’s easy to understand why so many are hesitant to seek help.
The Federal National Mortgage Association or Fannie Mae, is a government sponsored enterprise with the sole purpose of increasing liquidity in the housing market by purchasing mortgages from lenders allowing them to reinvest their assets into more lending. Fannie Mae and Freddie Mac are the largest investors of mortgage backed securities.
Last week, Fannie Mae unveiled their new website aimed at informing the public of alternatives to foreclosure.
KnowYourOptions.com gives homeowners their options wether they choose to stay in the home or decide to leave.
With an abundance of resources and action steps, this is a safe place for struggling homeowners.
KnowYourOptions.com is one of the few foreclosure prevention websites that I personnaly recommend.
I believe the hardest part of facing foreclosure, is finding people you can trust to help you navigate through it, with the government pulling the strings at Fannie Mae, you can trust the information provided.
I hope this will bring much needed relief for some in this situation.
About Daniel Di Matteo
THE REAL ESTATE BUSINESS HAS LESS TO DO ABOUT SELLING PROPERTIES AND EVERYTHING TO DO ABOUT HELPING PEOPLE.
