Home Refinance and Loan Modification Plan
The Obama Administration released detailed guidelines for homeowners to help them determine if they qualify for the Administration’s new Making Home Affordable plan to stem the current tide of foreclosures and stabilize the nation’s housing markets.
The hyper-links below will help the reader with some of the major questions dealing with this new homeowners program:
To find out if you qualify for either the Making Home Affordable Refinancing Program or the Loan Modification Program please click on the appropriate link below:
Find Out If You Qualify For the Making Home Affordable Refinance
Find Out if You Qualify For the Home Affordable Modification
Please find a list of useful resources below:
Making Home Affordable Summary of Guidelines
Making Home Affordable Borrower Q&A
Making Home Affordable Detailed Program Description
Home Affordable Modification Program Guidelines
Press Releases
Treasury Press Release
Fannie Mae Press Release
Freddie Mac Press Release
Important Contact Information:
Fannie Mae
- 1-800-7FANNIE (8am to 8pm EST)
- www.fanniemae.com/homeaffordable
Freddie Mac
- 1-800-Freddie (8am to 8pm ESP)
- www.freddiemac.com/avoidforeclosure
In addition, the Government warns homeowners to beware of foreclosure rescue scams:
- There should never be a fee charged for information or assistance regarding the Making Home Affordable Program.
- Beware of anyone who says they can "save" your home if you sign or transfer over the deed to your home. Do not sign over the deed to your property to any organization or individual unless you are working directly with your mortgage company to forgive your debt.
- Never make your mortgage payment to anyone other than your mortgage company without their approval.
San Diego California real estate agents
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Rep. Louie Gohmert speaks out against the mortgage cramdown, which would allow judges to rewrite home mortgages during bankruptcy. This proposal would force the 92 percent of responsible homeowners to subsidize the mistakes of irresponsible borrowers and lenders.
At the very least, mortgage lenders will have to add additional fees to all new mortgages to cover for the loses this legislation will cause.
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Washington, like every other government with a central bank and a printing press, is locked on a course and will not be swayed.
It's a little late for us little people to start making a fuss. People are only now waking up to what the ruling class has done, and we're already in the handbasket halfway to hell. To expect the fine public servants we have placed in Washington to come up with a sensible course of action, completely disregards everything that has been happening for the last, say, 20 years! I guess it takes a lot to make Americans upset.
The only course is to try to ride out the storm. San Diego real estate agent
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