Fannie Mae launched WaysHome, a free, interactive multi-media tool designed to educate homeowners about their options to avoid foreclosure, empower them to make informed decisions, and motivate them to take action and seek help in 2011. As part of Fannie Mae’s “Know Your Options” initiative to help struggling homeowners, the WaysHome video uses innovative technology to allow homeowners to put themselves in real-life situations, make informed choices, and immediately see the outcomes of those actions.

If you are having trouble making your mortgage payments and are looking for help to prevent foreclosure, the Federal Reserve has created a list of five tips for avoiding foreclosure scams.

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.