RSS FeedMaking Home Affordable Refinance Program FAQ's Mortgage11
After reading through the various resources about this program online, here are some common questions I’ve seen. So let’s jump right in!
Question :1. I am in my current mortgage. Is there any help for me in the Making Home Affordable?
Answer : Eligible borrowers (see the previous post about who is eligible) who are current on their mortgages, but have been unable to take advantage of lower interest rates because their homes have declined in value, now have the opportunity to refinance. Through the program refinancing affordable housing, Fannie Mae and Freddie Mac will allow the refinancing of mortgage loans that have or are placed in mortgage backed securities. This was good news for us because we are current on our mortgage, but our real value has dropped like a rock!
Question:2 How I can find out if refinancing will improve the long-term accessibility or stability of my loan? Source:
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