KnowYourOptions.com Launched By Fannie Mae To Help Homeowners

Fannie Mae (FNMA/OTC) today announced the launch of 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.

“Through foreclosure prevention programs, borrower outreach, underwriting guidelines and servicer engagement, Fannie Mae is taking a comprehensive approach to helping struggling borrowers,” said Jeff Hayward, Senior Vice President, Fannie Mae's National Servicing Organization. “Identifying accurate resources and finding the right answers can be a difficult challenge for borrowers facing hardship and a flurry of disparate, incomplete and sometimes fraudulent information. Know Your Options™ is the company's newest effort to reach distressed homeowners and is designed to bring the best information and guidance together in one place so that struggling borrowers can focus on finding solutions that work for their particular circumstances.”...see the site now

AboutYourMortgage.com Launched by Mortgage Professionals - Helps Consumers Renegotiate, Refinance, Reduce Red Tape

"We don’t know what we don't know!" That's the feeling many homeowners have who are trying to negotiate a mortgage while caught in the midst of the current mortgage meltdown. Not knowing who they should be calling and what questions they should be asking. Not understanding the options brought about by decisions made using too optimistic forecasts, too little education and now, too many financial setbacks.

On the other hand, there are those fortunate enough to weather this economic storm and want to take advantage of lower mortgage rates and housing prices, both not seen in generations, but don’t want to get caught off guard by tighter restrictions or credit questions. Solutions to both issues were recently launched, literally, at the new web portal AboutYourMortgage.com. AboutYourMortgage.com is a consumer-focused and user-friendly website which opens up the communications between homeowners and their mortgage servicers creating a better information flow leading to better decisions - on both sides. AboutYourMortgage.com is free to consumers who want to renegotiate their mortgage, refinance their existing mortgage or seek a mortgage as a first time homeowner; all who want quick, understandable solutions while saving time and money cutting through the red tape. AboutYourMortgage.com is the brain-child of Tim Allen, a Certified Mortgage Banker who saw the need for a more transparent environment back in 2000. With more than two decades of mortgage industry experience, Allen saw an ominous trend but responded with a simple solution. Helping to lead the executive team, AboutYourMortgage.com Board Chair Tim Allen has named Wade Hamby as President and CEO. Hamby is a seasoned executive with more than 25 years of senior level sales and marketing experience in the mortgage industry...read more

Tags: Tim Allen, Wade Hamby, mortgages, mortgage advice, mortgage renegotation