St Louis Mortgage and Real Estate News –
St Louis Finance News: New Borrower Education Site Launches
News and Lending Hot Line: 314-334-0210 | Floyd Tapia
A long awaited educational website has being launched by the home loan giant, Fannie Mae. Reports say it has been designed to educate distressed borrowers on house retention strategies and foreclosure alternatives.
There will be calculators within this online education resource that will help demonstrate to homeowners the makeup of refinancing, forbearance, repayment and loan modification options. It is available in both English and Spanish.
And appropriately it will offer information on Fannie Mae’s Deed-For-Lease program which allows borrowers that can no longer pay their home mortgage to become renters in the same property after doing a deed-in-lieu of foreclosure.
This new financial research site, KnowYourOptions.com, provides thorough information and step-by-step instructions including necessary forms such as a financial checklist and a contact log to aid borrowers in contacting their servicers.
Jeff Hayward, senior vice president of the National Servicing Organization recently said that “through foreclosure prevention programs, borrower outreach, underwriting guidelines and servicer engagement, Fannie Mae is taking a comprehensive approach to helping struggling borrowers.”
He adds: “Identifying accurate resources and finding the right answers can be difficult challenges for borrowers facing hardship and a flurry of disparate, incomplete and sometimes fraudulent information.”
In conclusion: “This initiative draws on the insights and feedback garnered through Fannie Mae’s work with thousands of lender partners and housing counselors across the country, and will help connect borrowers with the servicing and counseling professionals they need to reach resolution.”
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When applying for any type of St Louis mortgage, call Liberty Lending Consultants, the recognized St Louis home loan and refinancing experts, at 877-334-0210 and ask for Steve Swan or Doug Stahlschmidt.
For business owners looking for small business loans and alternative financing that works, call Floyd Tapia, host of the St. Louis “Mortgage Minute” at 314-334-0210. He is a successful hedge fund originator assisting local and national business owners in getting private and public St Louis finance and commercial lending with no upfront fees.
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