This is a difficult economy for so many countless numbers of families.
In this economy, it’s not your fault but sometimes there are hard choices to make about keeping or letting go of your home.
I have written about how long you have to wait after foreclosure, short sale or bankruptcy.
I am afraid I have not spent enough time talking about what your options are while you are approaching those decisions.
Fannie Mae has put together this website called www.KnowYourOptions.com
Unlike the KeepYourHomeCalifornia program offered by CalHFA, this is advice that you can use in almost any situation.
This resource educates and empowers homeowners specifically about two very important topics:
Options to Stay in Your Home include informative and educational descriptions and videos about:
Options to Leave Your Home include informative and education descriptions and videos about:
This site is really well put together. It’s easy to navigate and there is a lot of information, including educational videos!
Fannie Mae also set up a Facebook Page.
Every Foreclosure Prevention Situation is Different
This is great information, and I really do appreciate what Fannie Mae is trying to do to help consumers understand your options.
One of the most important things to remember is that even when it seems like your options are limited, you still have decisions that need to be made.
It is not easy to make a decision that might result in you having to leave your home.
Maybe you are one of the lucky ones that can look at your home as a financial investment? You are looking at your upside down home in a different light if this is the case.
You may still have questions or a scenario that doesn’t quite fit into any of the above options.
Feel free to ask your questions or leave your thoughts below in the comments section. Our conversation is invaluable to folks that have these same questions, so don’t be shy!
Till next time…Hope this helps?
Manager at Broadview Mortgage Katella in Orange, California, I am passionate about educating and empowering consumers. Feel free to call, text or email me at (714) 805-7268 or ScottS@broadviewmortgage.com