Wednesday, May 6, 2009
The Making Home Affordable Plan
Our Government in March released this program to help responsible homeowners refinance or modify their existing mortgages. In our high cost area the unpaid principal balance can be as high as $729,750. The first part of the plan helps homeowners with Fannie Mae or Freddie Mac loans. The second part helps homeowners who are at risk of foreclosure. Several options including interest rate reduction, extension of the loan term and other remedies. To see if you qualify for this program go to the following government web site, it might be worth your time. www.financialstability.gov/makinghomeaffordable/modification_eligibility.html