Fannie Mae Throws Homeowners To The Wolves With www.KnowYourOptions.com!

by Trevor Sines on March 15, 2011

Does Fannie Mae Really Want You To Know Your Options?

www.KnowYourOptions.com is a Fannie Mae website ostensibly set up to explain options available to struggling homeowners.  While I commend anyone that is honestly trying to offer valuable information or assistance to struggling homeowners, I found the site was sadly disingenuous and in many ways nothing more than another mouthpiece for the banking lobby propaganda machine.

Consider this quote, directly from the website:

“Your mortgage company or a HUD-approved housing counselor is the safest source of information and help.”

Fannie Mae is actually telling struggling homeowners or worse yet, homeowners facing foreclosure, that the safest source for information and help regarding their situation is their mortgage company!  What?  This is like telling an 11 year old boy that the best source for sex education is a pedophile priest!  This is absolutely outrageous.  The inconvenient truth regarding Fannie Mae, and the US Treasury Dept, for that matter, is that the banking industry created this mortgage meltdown and they are now preying on the very victims of the mess that they created. 

Here is the unvarnished truth : YOUR MORTGAGE COMPANY DOES NOT HAVE YOUR BEST INTERESTS IN MIND WHEN CONSIDERING YOU FOR MORTGAGE ASSISTANCE.  On the contrary, they have their best interest in mind.  The big banks have largely resisted and fought every effort by the Treasury Department to “encourage” foreclosure alternatives.  They have been caught red handed forging affidavits and proceeding with illegal foreclosures.  They have been caught red handed illegally foreclosing on active duty soldiers deployed oversees in warzones.  In short, your mortgage company has been exposed as a den of thieves and liars.  For an unsuspecting homeowner, reaching out for assistance to their bank is like walking into a pit of vipers.

Why would Fannie Mae encourage such behavior?  As the owner of a mortgage company and partner in a mortgage modification firm, I certainly have my opinions on the topic.  One thing is certain: Fannie Mae falls all over itself warning homeowners to “Beware of loan modification scams”, yet they promote and encourage the BIGGEST SCAM of them all, namely, that your mortgage company is the safest source of information and help. 

Homeowners beware:  Fannie Mae and their banking buddies are here to help!

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Loan Modification Programs In Michigan

by Trevor Sines on March 5, 2011

Loan Modification Programs in Michigan helped John save over $700 per month!

Watch the video above and learn how John’s loan modifications were able to reduce his first and second mortgage payments by 44%! Plus, you won’t believe his new interest rates!

Loan modification programs in Michigan can really help the right homeowner and not only save their home, but save them some serious money. If you want to find out if you will qualify for the governments Home Affordable Modification Program, call Michigan Mortgage Modification today at 248-674-6457.

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Once the foreclosure process starts is there anything I can do to stop it?

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Yes. Options including refinancing your loan, selling your house or modification of the existing mortgage may all be available. However, the longer you wait to take action; some of these options will become unavailable. Time is of the essence, especially if you would like to retain your home. It is never too late to seek [...]

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What is the foreclosure timeline?

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Pre-Foreclosure- Months 1-3 First Month Missed Payment •Customer misses mortgage payment. •Late notice sent by bank. Second Month Missed Payment •Customer misses additional payments. •Bank attempts in writing and by phone to contact customer and resolve situation. Third Month Missed Payment •No arrangements are agreed upon and customer continues to miss payments. Bank issues a [...]

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After your home is sold at the Sheriff Sale you enter into the redemption period. In the state of Michigan this period is usually six months. During this redemption period you may redeem the property as your own if you can pay off the balance owed to the mortgage company, plus legal fees. This does [...]

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What Happens During a Foreclosure?

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Foreclosure is a legal proceeding in which the financer of a mortgage seeks to regain property because the borrower has defaulted on payments. In other words, a foreclosure is a situation in which a homeowner is unable to make payments on his or her mortgage, so the lender, be it a bank or building society, [...]

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I get a ton of mail from several different companies stating that they can help me. Who are these people, where are they getting my address, and can they really help me?

January 20, 2011

Many groups of people try to contact homeowners in foreclosure. Below, you will find a list of groups that my contact you offering help during a foreclosure. Because of the legal nature of the foreclosure process, your name and address may be part of public information offered through the court system and ultimately published in [...]

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How long does a loan modification take and is there any way to speed it up?

January 20, 2011

A loan modification can take anywhere from 3 months to several years to complete. It really depends on several different factors including, but not limited to: •Who your current mortgage lender is •If you are current or delinquent on your payments •How thorough you are when submitting the modification request •The manner in which you [...]

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I have terrible credit. Can I still do a mortgage modification?

January 20, 2011

Yes. In fact, your credit rating has little or no impact on the outcome of your modification request. There isn’t a lot of consideration paid to your previous payment history. Instead, lenders look at the likelihood that you can consistently make the lower, modified payment going forward. That is why it is essential to have [...]

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