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!

Calling All First Time Home Buyers!

For all our first time home buyers out there, you SHOULD be aware of the following federal program that will make buying your first home much more affordable.

It is called the MCC (Alameda County Mortgage Credit Certificate). You can find out about the details of this program at the website of Alameda County (http://www.acgov.org/cda/mcc_program/).

I can explain in more detail how that would affect the purchase process. Just come and see me in my office at Caldecott Properties, 5251 Broad way, Oakland, CA 94618.

Looking forward to assisting you then.

Antoine E. Pirson, MBA
Broker and Investment Advisor
Caldecott Properties
Office: (510) 594 2400
www.investmentpropertyfirst.com
 fax:(510) 594 2424

Introduction of Home Affordable Foreclosure Alternatives – Short Sale and Deed-in-Lieu of Foreclosure

This Supplemental Directive provides guidance to servicers for adoption and implementation of the Home Affordable Foreclosure Alternatives Program (HAFA). HAFA is part of HAMP and provides financial incentives to servicers and borrowers who utilize a short sale or a deed-in-lieu to avoid a foreclosure on an eligible loan under HAMP. Both of these foreclosure alternatives reduce the need for potentially lengthy and expensive foreclosure proceedings. The options help preserve the condition and value of the property by minimizing the time a property is vacant and subject to vandalism and deterioration. In addition, these options generally provide a substantially better outcome than a foreclosure sale for borrowers, investors and communities.

Click here for the Supplemental Directive in its entirety.