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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In 2004, Republicans held an oversight hearing on Freddie Mae and Fannie Mac. They warned us about this crisis back then, but Barney Frank, Maxine Waters, and other Democrats charged racism. Franklin Raines, the disgraced thief Democrat CEO of Fannie Mae, insisted the loans were “riskless”.” There’s plenty of video out there on this showing this fact.
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…We are already seeing people who COULD pay their mortgages miss payments on purpose so they can have their rates lowered and terms modified…
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Negative equity is a big deal no doubt but I believe that job loss is what will really create a wave of foreclosures this year.
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