Fannie Mae’s website to help distressed homeowners
The two GSEs (Government Sponsored Enterprise) Fannie and Freddie Mac have tremendous impact on the housing industry. Unfortunately, they also have in their portfolios, a lot of distressed loans where homeowners are severely under-water and do not know what to do.
They have attempted to deal with the situation by providing better options like short sales and deed in lieu programs. As with any government programs, there is a lot of bureaucracy, so to streamline the process and have one website where the homeowners can obtain all of the options available for a Fannie Mae loan, the former has created this website.
It is a one stop shop to learn about all of your options if you have a Fannie Mae loan.
Freddie Mac still has not announced their own website, but these two organizations often operate in unison, so it would not be a big surprise to see it announce a similar website in the near future.
