Fannie Mae Launches Consumer Education Website

Fannie Mae launched a consumer education website to help struggling homeowners understand their options.

The site, knowyouroptions.com, will offer tools and calculators to help borrowers understand options such as refinancing and modification, as well as checklists to help borrowers prepare for conversations with mortgage companies.

"Fannie Mae is taking a comprehensive approach to helping struggling borrowers," said Jeff Hayward, Fannie Mae senior vice president of National Servicing Organization. "Identifying accurate resources and finding the right answers can be a difficult challenge for borrowers facing hardship and a flurry of disparate, incomplete and sometimes fraudulent information."

The site will offer information in English and in Spanish, the company said in a statement.