Today Fannie Mae launched a new consumer education website on foreclosure options.

The way I found out about it was when I received a call from the Orlando CBS affiliate, Channel 6 News asking if they could interview me about the new site… www.KnowYourOptions.com

So while he was asking me questions about the ramifications of a foreclosure on your life (credit, jugdments, etc.) I pulled the site up quickly to take a peek!  It’s actually a pretty good site!

A lot of the information they are sharing is similar to the info I put on MY info site, www.BeforeYouShortSale.com which is for Orlando Short Sale Homeowners info.

They cover the options for when you want to keep your home, including something they call “Deed-for-Lease” which is where you deed your home to the lender (called a deed-in-lieu of foreclosure or dil) and then they will rent it back to you for a specific period of time for current market rent value.  The other options when you want to stay in your home are: refinance, repayment plan, forebearance, and modification and on the site they explain what each of these are and the benefits.  But remember… if you want to stay in the home you will need to be able to qualify for the payment, so if you are without income you will most likely not qualify to keep your home.

They also cover the options for when you can’t or don’t want to keep your home.  These include Deed-in-Lieu and Short Sale and cover the what’s, how’s, and benefits of these options for your family.

Within an hour of my “phone interview”, the reporter from Channel 6 was here in my office with his camera guy to do an interview and find out more about what options a homeowner has in Orlando if they are facing a challenge with their mortgage or facing short sale or pre-foreclosure.  The spot will run tonight on Channel 6 between 6-7pm and I’m figuring will be re-run on their website www.clickorlando.com

If you are a homeowner facing trouble with your mortgage, check out the site: www.KnowYourOptions.com it has some really good information that might make your decision easier.  And if you are in Seminole County or the Orlando area… give me a call!

UPDATE: Here’s the link to read the article and watch the video replay, CLICK HERE

Any time I mention the TONS of low-priced property in Seminole County right now, people are shocked!  So I’ve decided to start sharing some of the stats with you regularly on cheap Seminole County houses and condos.

So, as of today, there are 178 properties for sale in Seminole County under $50k, and there are actually 6 available for under $20,000!

If you are ready to buy a property in Seminole County, either to move into or as an investment, call me at 407-842-7700 right away, or email me at Andy@AndyTolbert.com

Yes, it’s official, yesterday Governer Crist and other lawmakers decided to NOT let criminals with certain crimes on their records get a mortgage broker’s license. WOW! We are such a progressive state (that’s sarcasm by the way!)

Florida has always had a policy on this. Way back when I got my license (I think ‘96?) I had to go to the police station and have my fingerprints taken, supposedly for a background check. And yes, thank you, I passed! And so did my husband, Tim.

Would you, and should you, trust someone that is a former bank-robber or drug dealer with your most private information (including your social security number, bank accounts, etc.)?

Absolutely NOT. I firmly believe that there is nothing wrong with interviewing your mortgage broker or real estate agent and find out if THEY are the right ones to be working with. Go ahead. I’ve got nothing to hide!

Here’s a link to an article about this topic: http://www.floridarealtors.org/NewsAndEvents/n1-081308.cfm

Ready to buy a foreclosure bargain house in Seminole County? Call me today and let’s see if we will be able to work together! Yes, it’s a 2-way decision!