By John Clark
The implosion of the housing market in 2008 resulted in a tidal wave of home foreclosures. As homeowners continue to face the prospect of home foreclosure, they’ve looked to the Internet for advice. However, much of this advice is biased or just plain wrong.
In order to fill this information gap, Sallie Mae, a quasi-governmental agency that helps set lending standards for most types of mortgages, has started a foreclosure help website called KnowYourOptions.com.
According to a report in the New York Times, features of the website include:
Since securing a home mortgage can be a complicated process, it’s helpful to do research on the topic to gain confidence in your ability to get a fair loan.
Key items to consider when looking for a home mortgage include the following:
Remember, a home mortgage will likely be the biggest financial decision you ever make, so take your time and don’t settle for a lousy deal!