Assessing Your Options Under Stress

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

There are definitely way too many people out there today struggling to stay in their homes. I have a handful of family friends that have been forced to leave their homes from foreclosures, and even a few that succumbed to bankruptcy. Then, I have friends that have been evicted while renting a home that was being foreclosed. It seems to be everywhere, especially where I live in Florida. 

The economy is tough out there right now. Everyone knows that. Forecasters continue to hope that the economy will recover, and while I remain confident that it will, there are still so many homeowners experiencing financial hardships, job loss, and a potential foreclosure. It's very sad.

if you or someone you know is going through these troubled times, offers a plethora of options to consider. Aside from the popular option to refinance, you can rework your payment plan, go into forbearance, go through a loan modification, and even carry out a deed-for-lease plan.

It's important to also check out the “Beware of Scams” section of the website. This resource helps you to identify some of the awful scams that people are falling for to try to deal with their financial woes. This newfound knowledge will undoubtedly help you understand what not to do when you are panicking and under such intense stress.

When all is said and done, the biggest advice I have for someone going through hard times is to remain calm. It’s important to do your due diligence, assess your options, and seek as much third party advice as possible before making a decision on what to do. The last thing you want to do is make a quick decision that you might question later on.

I strongly encourage everyone to check out Know Your Options by Fannie Mae and keep it in your mental arsenal to pull out for others to take advantage of while in future conversations. I expect those on the receiving end will thank you for your very helpful advice.

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