Help with your Mortgage

Need help with your Mortgage?

July 27, 2009

The Obama administration estimates that as many as 9 million homeowners may be eligible for either refinance or loan modification help under the recently launched Homeowner Affordability and Stability Plan (HASP).

The big first step in determining your eligibility for either program is to find out who "owns" your mortgage. Both programs mandate that lenders consider borrowers whose mortgages are backed by either Fannie Mae or Freddie Mac. It is hoped that lenders will consider offering the same assistance to other loans as well. And, given the financial incentives lenders will receive for the loan modification program, I expect many will.

Action Plan

Contact Fannie Mae or Freddie Mac to find out if they back your mortgage.
For Fannie Mae:
800-7FANNIE (8 a.m. to 8 p.m. EST)
www.fanniemae.com/homeaffordable
For Freddie Mac:
800-FREDDIE (8 a.m. to 8 p.m. EST)
www.freddiemac.com/avoidforeclosure

I also recommend checking out http://www.makinghomeaffordable.gov/ that can help you understand if you are a candidate for the HASP refinance or modification programs.

Information deemed reliable, but not gauranteed.

Some properties which appear for sale on this website
may subsequently have sold or may no longer be available.

Taking care of you is our top priority. Real Estate Experience: 28+ years. Happy clients: forever.

Pam Toth, ABR, CRS, GRI 757-724-8499 and Suzi Toth Noyes 757-724-1064

Action Plan