Posted on Tuesday, January 11, 2011
January 6, Fannie Mae launched WaysHomeTM, a new interactive video to educate homeowners about their options to avoid foreclosure, motivate them to make the right decisions, and encourage them to seek help. WaysHome is part of Fannie Mae's Know Your OptionsTM consumer initiative to help today's struggling homeowners and is available on KnowYourOptions.com.
A unique and innovative learning tool, WaysHome allows homeowners to put themselves into real-life situations and make decisions -- then see the consequences of these decisions play out in front of them. Through WaysHome, homeowners can:
• Participate in an interactive video simulation.
• Select a character and go through the simulation "playing" that character.
• Follow characters as they encounter financial hardships and challenges that affect their ability to pay their mortgage.
• Choose different paths based on real-life situations.
• Experience the positive outcomes or negative consequences of their choices (i.e., if they avoid taking action, foreclosure may be their only option).
• Learn about options that may be available to help.
• Discover the right paths to avoid foreclosure, know their options, and find their way home.
Benefits to You
Our research shows that many homeowners still don't know about -- or understand -- their options to avoid foreclosure. In fact, many homeowners who are seriously delinquent or in foreclosure have little to no contact with their mortgage company. WaysHome is designed to bridge that gap and encourage homeowners to take action before it's too late.