Las Vegas distressed homeowners whose loans are backed by mortgage giant Fannie Mae now have a new place to start their search for answers.  “Know Your Options.com” a website specifically designed for upside down homeowners, describing the workout options refinancing, forebearance, loan modifications.  

 

Fannie Mae also offers the unique Deed for Lease program where you can remain in the property after handing it back to them up to 12 months.  To qualify…

  • The loan involved is a first loan on a primary residence. It cannot be on a second home or investment property. You can not have a second loan of any kind. 
  • You have had to have made at least three payments since getting the loan or  a loan modification.
  • At the time of referral to Fannie Mae for consideration under this program, you  cannot have missed 12 or more payments on the loan.
  • You cannot have filed for bankruptcy.
  • You have to be employed with income which can be verified

IF you aren’t sure if your loan is a Fannie Mae loan – click here: http://loanlookup.fanniemae.com/loanlookup/.  Call me with questions on this!

 

If your loan is not Fannie Mae, you do not want to keep your home or may not qualify above, call me at 702-530-5002 or visit www.vegasvalleyshortsale.com to discuss other options including a negotiated sale with the bank (my specialty) where we negotiate a much smaller payoff in order to sell the home at today’s market value.