Help is Available!

A recent report released by Realty Trac, a real estate data service showed home foreclosures increased in Oklahoma and across the U.S. during April 2008. While the rate of foreclosures in Oklahoma increased to 1 per 922 households, approximately 1/10 of one percent, it remains much better than the U.S. rate of 1 per 519 households. Yet, many homeowners who are facing possible foreclosures have options which may not be known to them. For example, Fannie Mae, the nation’s biggest provider of home mortgages has recently implemented its HomeStay ™ Initiative. Fannie Mae is working with lenders and loan servicing companies to respond to the national housing and mortgage market crisis. The goal is to minimize the impact on families and communities by preventing foreclosures.
There are a number of options within the Initiative, and the program is working. During 2007, Fannie Mae helped more than 43,000 families stay in their homes.
If you or someone you know is facing a possible foreclosure, make sure you know all your options. Contact Sarah at Coldwell Banker or go online to eFannieMae.com. We believe in home ownership whether we’re helping people buy, sell or just keep their current home!

For more information contact me at slaunchbaugh@cbtulsa.com