knowyouroptions.com is Fannie Mae’s new site to inform consumers of options when faced with the possibility of foreclosure.
Perhaps the editor of HousingWatch describes the site best -
“From the virtual video tour that greets you the moment you visit the site’s home page, KnowYourOptions does a terrific job of helping homeowners facing foreclosure find unbiased assistance in sorting out the mass of private and public assistance programs. With easy, step-by-step directions, the site guides you to simple financial solutions designed to help you stay in your home. Or not: Unlike other mortgage modification websites, KnowYourOptions doesn’t assume that the only way forward is to cling to your home.
Instead, the site details options to stay or to leave — what it calls “graceful exits” — and does so with smart videos from people who’ve walked in your shoes. (The site even accommodates Spanish speakers, many of whom were disproportionately affected by the subprime lending boom, with a one-to-one translation of every video and webpage.)”
The educational quality of the site should not be underestimated. After spending an hour or so combing through the pages, it’s a remarkable resource, especially when one considers the mountain of bad information available elsewhere online. From deed in lieu of foreclosure to short sales, the authors intelligently explain each process in clear terms. The focus throughout the site to educate, and explain the options for someone considering leaving a home, or trying to make the decision to stay, is refreshing.
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