Fannie Mae launches new website to help struggling homeowners – Irvine Real Estate – Irvine Homes for Sale

Fannie Mae, the government-controlled mortgage finance company, unveiled a new website today aimed at helping homeowners facing foreclosure.

The site — www.KnowYourOptions.com — features an interactive video where actors show the consequences of decisions to real life homeowner situations. Much like a “Choose Your Own Adventure” book, users can roleplay as various types of distressed homeowners and choose to go down a number of different paths. Should you stop making payments on your mortgage? Do you answer the phone when the mortgage lender calls? Should you call the company that sent you a letter claiming to be able to save your home? Each decision leads to a different video showing the consequences.

Spoiler alert: Choosing to not answer the phone when the mortgage company calls does not lead to good things — at least according to the giant mortgage financier.

The interactive feature — called WaysHome — is an effort to guide struggling homeowners to short- and long-term solutions, according to FannieMae.

“In 2011, an estimated 4 million homes will be at imminent risk of foreclosure. As we enter a new year, the company is expanding its efforts to help struggling homeowners avoid foreclosure — WaysHome is an innovative tool to help achieve this goal,” Jeff Hayward, Fannie Mae Senior Vice President is quoted as saying in a press release announcing the new site.