Ann Arbor Michigan Real Estate: Freddie Mac Stopping Foreclosure Education On Youtube?
We all hear that the web is changing the way we do things and influencing many parts of our lives, however for the struggling homeowner the web can be a great source of information for those who are unsure on what to do.
Help is at hand from the Government! Freddie Mac has launched a Youtube channel where it can post videos to educate homebuyers and homeowners.
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home ownership possible for one in six homebuyers and more than five million renters.
The latest video on their Youtube channel, which you can view above is entitled: “Stop Foreclosure: Documents Your Lender Needs to Help You” is a ready reference guide to show you what you can do as a homeowner to help your lender help you. It all comes down to being prepared and getting all your documents in place ahead of time and anticipating what they may need from you. This video goes a long way to doing that. The press has even picked up on the video and praised its efforts.
According to the video, the key documents borrowers should have when they call their loan representative include:
- The most recent monthly mortgage statement, and if you pay homeowners or condo association fees, get your most recent statement.
- Pay stubs or other documents showing their household’s monthly pre-tax income. For the self-employed, profit and loss statements.
- The most recent tax return.
- Statements on any loans secured against the home, including second loan or home equity line of credit statements.
- Statements showing account balances and minimum monthly payments on credit cards, car loans, student loans and other debt.
- A short, concise description of the financial hardship that is causing or leading to a mortgage delinquency.
As leaders in the short sale and foreclosure field you can trust us to advise you in the best way possible. We have successfully executed about 20 short sales to date and put the certified property expert designation to good use. Please know that not all agents have the experience to execute this. Be sure to interview the agent carefully. Ann Arbor Short sale experience is irreplaceable. You can look at www.AnnArborShortSale.com or call us for a confidential consultation.
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August 2nd, 2009 at 10:18 PM
[...] homeowners or landlords and therefore they may decide they want to work more with homeowners to modify their existing loan rather than foreclose or choose to rent the home back to the [...]