This is a Sponsored post written by me on behalf of Fannie Mae. All opinions are 100% mine.
Since the start of the holiday season, I have personally known 18 people that have lost their jobs. Not to mention the dozens of others who have been out of work for months. While the news media claims that the economy is improving, I just don't see it. Some of these friends were employed with their companies for 15+ years, and had no plans of leaving the company of their own accord. Yet, the economy has had such a negative impact on their companies, that they were forced to make major cutbacks, and let go of some good, long-term, quality employees.
So many of these families were already living paycheck to paycheck, barely able to meet their basic financial obligations before their layoffs, that now they are in a desperate financial crisis. While cutting back on non-essentials, using coupons, and curbing spending are all necessary under these circumstances, the most important payment we make each month is our mortgage.
One of the first things someone who has lost their job needs to do, is to make a plan for handling their mortgage. You can visit Know Your Options by Fannie Mae. You don't want to get into a situation where you are facing foreclosure on top of everything else, if it is avoidable, so educate yourself early on. There are so many scams out there, and you are most vulnerable to them when you are in a crisis situation, and visiting KnowYourOptions.com will help you learn how to safely handle your mortgage during this difficult time.
I urge everyone to bookmark this site to pass on to friends or family members should they need it. While financial matters are a delicate issue, I'd rather be uncomfortable approaching a friend to offer help, than to see them lose their home to foreclosure because they were unaware of safe options they may have been eligible for.