photo credit: woodleywonderworks
I learned about this web site, KnowYourOptions.com, at one of the many short sale and foreclosure classes I’ve taken over the past couple of years. It’s a Fannie Mae web site that includes a lot of basic information, plus some tools for walking a homeowner through their options. The whole idea of the web site is to offer options for the homeowner to avoid foreclosure, while either staying in the home, or leaving.
Options for staying in the home, include: refinancing, repayment plan, forbearance, loan modification, and deed for lease. Options for leaving the home are short sale and deed in leiu of foreclosure.
I like the way the site asks a series of questions, such as:
- Are you behind on payments?
- If so, is it a short or long-term situation?
- Do you want to stay in your home?
- And more…
This is one of those web sites to keep in mind if you or someone you know needs some help working through their options, before picking up the phone to call someone.
Other web site with helpful information for struggling homeowners include:
- The Short Sale Seller Advisory – A New Resource of Distressed Homeowners – Arizona Association of Realtors Article by Michelle Lind
- Arizona Short Sale Seller Advisory
- Foreclosure Prevention – Resources for Scottsdale, Arizona Home Owners
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Great tip for the website. Will definitely give this info to some friends who are struggling these days.
Good – I hope that the informaiton helps!