Fannie Mae Site Offers Tools For Homeowners, Renters Impacted By COVID-19

Jennifer Keiper
June 25, 2020 - 10:22 am

CHICAGO (WBBM NEWSRADIO) --Fannie Mae, the government-sponsored lender that helps moderate and low-income families get home loans, said it wants to also help homeowners and renters understand what is available to them during the COVID-19 pandemic. 

At KnowYourOptions.com videos, the site that Fannie Mae operates, fact sheets, mortgage loan and renter lookup tools are available.

Danielle McCoy, vice president for Fannie Mae, told WBBM the information is designed to help people stay in their homes despite job loss or other issues related to COVID-19.

McCoy also said they’re trying to eliminate some common misunderstandings about the options available, for example, a forbearance agreement. 

“A forbearance is not necessarily defaulting on your mortgage as long as you’re acting consistently with the terms of he forbearance that you get with your lender,” McCoy said. 

McCoy said you want to be proactive to prevent being delinquent and you want to get into the correct program so that you might be able to prevent some type of impact on your credit report. 

For more information, visit KnowYourOptions.com.