On Feb 27, 2008, Fannie Mae announced  that, as part of its HomeStayTM initiative to support its mortgage servicers as they provide at-risk borrowers with refinancing and loan workout assistance, it is offering a new option - HomeSaver AdvanceTM. 

Some of the highlights are:

A loan to cure the arrears up to $15,000 on a 1 year fixed rate of 5%.

6 month no interest/no payment option

and more!

HomeSaver Advance is designed to help qualified borrowers bring delinquent mortgages current and keep their homes. With HomeSaver Advance, servicers can now offer an unsecured, personal loan that will enable a qualified borrower to cure the payment default on a mortgage loan that Fannie Mae owns or has securitized, with fewer up-front costs and generally in less time.  This option is available threw most Fannie Mae approved servicers.....Follow the link to learn about the highlights, eligibility, etc. https://www.efanniemae.com/sf/servicing/pdf/homesaveradvance.pdf