Five Foreclosure Myths Debunked in New YouTube Videos
It's often hard to separate fact from fiction when looking at all the information about foreclosures that's available today. That's why this week, we launched a series of videos on the Freddie Mac YouTube Channel designed to dispel five of the most common myths about foreclosure.
Each video addresses one of these foreclosure-related myths:
- If my house is foreclosed, I can never buy a house again – the foreclosure will stay on my record forever.
- I should stop paying my mortgage so I can get assistance with my mortgage payments.
- If I'm late on my monthly payments, I'll lose my house.
- I am getting many offers for help from a variety of people. They are probably all scams.
- My lender is not responding to my inquiries, so I should just give up and face foreclosure.
The videos – each one less than two minutes – feature additional facts and helpful information gathered from our Get the Facts on Homeownership education and outreach materials used by housing counselors and other mortgage professionals. We've had success before in bringing information directly to consumers through our YouTube channel – and this time around, we're also encouraging mortgage professionals to use these new videos with their clients. Our goal here is simple: to help separate foreclosure myth from fact and provide individuals and families with good, credible information they can use to make informed decisions about their homes and their futures.
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