Fannie Mae Launches “WaysHome” Interactive Video Tool to Help Struggling Homeowners

I found this news fascinating as an ex drama school teacher.  Fannie Mae recently launched WaysHome, a free, interactive multi-media tool designed to educate homeowners about their options to avoid foreclosure, empower them to make informed decisions and motivate them to take action and seek help in 2011.

As part of Fannie Mae’s “Know Your Options” initiative to help struggling homeowners, the WaysHome video uses innovative technology to allow homeowners to put themselves in real-life situations, make informed choices and immediately see the outcomes of those actions.

Unique to the other industry-wide foreclosure prevention efforts, WaysHome was developed by Fannie Mae to educate distressed homeowners on the short- and long-term impact of their decisions. Through video reenactment, WaysHome allows homeowners to experience scenarios that address a range of options for avoiding foreclosure that include repayment plans, forbearances, modifications, deeds-in-lieu, and short sales.

Here’s how it works.  The video is set in a neighborhood that has been hurt by the foreclosure crisis. Real actors play three residents of the neighborhood—each in financial distress. Homeowners select to play one of the residents and, as their stories unfold, make important financial decisions for them and see how the consequences of these decisions play out. Fannie Mae provides helpful tips, tools and links during the process and users have the ability to go back and revise their decisions should their choices lead to a negative outcome. Most choices lead to an immediate consequence followed by a related teaching point.  Go to www.KnowYourOptions.com  and check it out.

Market Highlights from Friday, Jan 14th's radio show included:
1410 MANOR ROAD, Monterey MLS #: 81056834 $1,525,000
Beds: 3 Baths: 4 (3/1) 
Walking into this primarily single story home, you notice the luxurious amenities through out. The incredible gourmet kitchen opens to the dining & family room surrounded by huge picture windows that show a big, private backyard w/outdoor kitchen. The master suite boasts private patio, 2 large walk-in closets & spa-like bath. Upstairs is a full apartment w/kitchen & separate entrance.  5 car garage is a great perk!   SqFt: 3,255 Lot Size: 77,305 Sqft

833 QUAIL RIDGE LANE, Salinas Monterey Highway MLS #: 80782197 $1,575,000 
Beds: 5 Baths: 4 (3/1) 
Stunning valley views surround this Southwestern estate on 2.5 acres. Completely remodeled from top to bottom, this private home has 4 bedrooms in the main house + an apartment w/separate entrance. The chef's kitchen not only boasts granite & stainless steel appliances but also 3 huge, panoramic windows full of gorgeous views... not a bad way to cook dinner!  Every detail has been considered & included.  Horses OK.  SqFt: 2,728 Lot Size: 87,120 Sqft (allows 2 horses)

9150 CARMEL VALLEY ROAD, Carmel Valley MLS #: 81101286 $850,000
Beds: 4 Baths: 3 (3/0) 
Lovely Tuscan Ranch home with beautiful finishes inside and out, featuring an office, wine room, along with an outdoor fireplace and bocce court. Perfect for entertaining! There is an unfinished addition with plans and permits available...   SqFt: 4,121 Lot Size: 43,740 Sqft

3007 INDEPENDENCE AVENUE, Marina MLS #: 81101499 $419,000 
Beds: 3 Baths: 2 (2/0) 
Beautifully remodeled in 2010. Located on a quiet cul de sac. Hardwood floors, crown moldings, granite countertops, stainless steel appliances and a cozy wood burning fireplace in the den. Fenced yard with back patio. 2 car garage.   SqFt: 1,374 Lot Size: 7,246 Sqft

© Patty Ross, KRXA Radio Show #190  January 14, 2011