Mortgage Problem? Know Your Options

This is a Sponsored post written by me on behalf of Fannie Mae for SocialSpark. All opinions are 100% mine.

Many homeowners today are worried of losing their homes. The economic downturn has affected several American workers being laid off from work. There's a big possibility that if you lose your job, you could also lose your home. After all you get the payment of your monthly mortgage from your work income. However, there is always a solution to this problem. Fannie Mae, a government-sponsored enterprise which purpose is to help homeowners save their homes from foreclosure, created an online portal dedicated to people with mortgage problems. If you are one of the homeowners encountering financial difficulties and do not know what to do to keep your home, will give you a vast array of beneficial information about the many options you can choose to avoid home foreclosure. Whether you decide to stay or leave your home, this website will usher you to the right direction.

If you are a homeowner who wants to stay in your home, some of the options you can do to retain your home are refinance, repayment plan, forbearance, modification, and deed-of-lease options. To know more about these alternatives, go to and click the "Options to Stay in Your Home" tab. If you wish to leave your home, there are also options offered to you. Just click the "Options to Leave Your Home" tab and you will find the right information.

One more thing you have to keep in mind when you are facing foreclosure or mortgage payment problems is to be wary of scams going on around the realty business. If someone approaches to help you with your mortgage problem and asks for fees, that's a red flag. The federal government offers homeowners like you free services on this matter through the U.S. Department of Housing Urban and Development or HUD. You do not have to pay any single penny for an advice. So, you have to make sure that you only deal with HUD-approved counseling agencies. You can find legitimate agencies on the HUD website. Know Your Options by Fannie Mae also provided a link in their "Beware of Scams" tab to know more of the red flags with mortgage scams.

It's time to stop worrying about the possibility of losing your home. What you need to do right now is to address and take action to solve the problem. The options are already laid in front of you. Now is the time to study these options and see which one fits your financial issues the best.

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