Meet Kathy and William. Mortgage modified in 2012.

‘Even if you’re in foreclosure, find out who owns your mortgage loan and see if they can help. It might not be too late to save your home.’


Kathy and William realized their good fortune while escorting their granddaughter door-to-door in their Rowlett, Texas neighborhood selling cookies. A neighbor who wanted to order hesitated, finally admitting he’d been foreclosed on and would be gone by the time the cookies arrived.

His admission hit home with Kathy and William—just a year ago they’d been in the same situation, and with the same mortgage company. But luckily they found a last-minute way to save their home.

They bought their home in 2006. They’ve been married for 42 years; both are over 65. When Kathy was laid off in 2008, she did not receive the bonus check from her employer she’d counted on to pay for property taxes and insurance. They dipped into their savings to pay those bills and others.

Because money stayed tight in 2010 they asked their mortgage company for a loan modification, but were told they couldn’t qualify without higher income. Then, in 2011, their home went to foreclosure after all of their attempts to achieve a loan modification failed. They were distraught and starting to pack when they decided to make one last call—to a Fannie Mae Mortgage Help Center (Fannie Mae owns their mortgage loan).

Fannie Mae recognized the situation required fast action. And in just two days Fannie Mae shared some excellent news with Kathy and William—their foreclosure would be rescinded and the loan modified.

Although the new monthly payment is slightly higher, it now includes property taxes and insurance, so Kathy and William won’t have to make those bulk payments at year-end.

What advice would they share? “Even if you’re in foreclosure, find out who owns your mortgage loan and see if they can help. It might not be too late to save your home.”

Previous Interest Previous Payment

Peace of Mind
Monthly Payments Now Include
Taxes and Insurance

6.875% $736*
*Does not include taxes and insurance
Modified Interest Modified Payment
2% $794**
**includes taxes and insurance
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