Given there is no much misinformation surround homeowners facing foreclosure, a series of videos have been created by Freddie Mac aimed at helping consumers separate foreclosure fact from fiction.
Each 90- to 120-second video, can be viewed on Freddie Mac’s YouTube Channel dispels one of five common myths that may prevent homeowners from keeping their homes if they face foreclosure. The video series is based on content from Freddie Mac’s “Get the Facts on Homeownership” education and outreach materials.
The five myths the video series focuses on are:
- Myth 1: If my house is foreclosed, I can never buy a house again — the foreclosure will stay on my record forever.
- Myth 2: I should stop paying my mortgage so I can get assistance with my mortgage payments.
- Myth 3: If I’m late on my monthly payments, I’ll lose my house.
- Myth 4: I am getting many offers for help from a variety of people. They are probably all scams.
- Myth 5: My lender is not responding to my inquiries, so I should just give up and face foreclosure.
We hope you or someone you know finds these videos are helpful.