The website features unique video and web content designed to make distressed homeowners aware of their options and alternatives to foreclosure. It also provides direct links to non-profit organizations that can help borrowers explore workout options with their lenders.
"Freddie Mac released a study in January of 2008, which showed that lenders are unable to contact borrowers in more than half of the foreclosures they conduct," said John Jelavich, PMI's Vice President of Homeownership Preservation Initiatives. "We believe many foreclosures can be avoided through some basic education about options and alternatives to foreclosure."
Jelavich continued, "The internet is the most powerful education tool available, and video content is the fastest growing and most popular media type on the web. We know that homeowners at risk are turning to the internet for help, and we wanted to provide accurate sources of information that directs people to the resources and help they need."
The PMI videos can also be found on YouTube.com by searching "PMI Workout Programs" and "PMI Selling Your Home." -- PMI Mortgage Insurance Co.
