Help For Distressed Homeowners - New Fannie Mae Online Tool
Ways Home: Interactive Options to Avoid Foreclosure is Fannie Mae's new interactive online tool for distressed homeowners. It's a great starting point to explore options - check it out!!
Last week Fannie Mae launched a new interactive online tool called WaysHome. This tool allows distressed homeowners to explore various options for their particular financial situation. The tool can be found on Fannie Mae's KnowYourOptions website.
The tool is a virtual experience where homeowners answer questions to create or model their situation to see what their outcome will be. The users choose the character that best matches their level of financial distress, makes decisions for them and presents a video re-enactment of potential results. Users can go back and choose different options to view different outcomes such as repayment plans, forbearances, modifications, deeds-in-lieu and short sales. The online tool is not yet available in Spanish but Fannie Mae indicated that it is in the works.
Mary Alice Ruppert
Licensed Associate Broker
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