Are you having trouble making your payments and are current on your payments but are unable to refinance? Well you may be eligible to refinance if your loan is through Fannie or Freddie Mac. Not sure if your loan is Freddie Mac or Fannie Mae you can check here.
If you do have a Freddie or Fannie Mae loan click here to see if you are eligible to refinance your current loan.
{ 6 comments… read them below or add one }
I am shocked that the major mortgage mistake above was not included. I have seen many times when a buyer gets preapproved by a lender and then enters into a contract to purchase a home. Then a couple of weeks later they buy a car on credit or furniture and the loan ends up getting denied. Whatever you do when you are trying to buy a house you should not have anyone pull your credit or make a purchase on credit until after the home has closed and funded.
It is a fantastic time to get into real estate investing because of the low prices! Gotta have that cash though! Especially now. The finance diligence has really been tightened up to help keep this from happening again!
What a great way to help out those who are in trouble. Just wish everyone had this option to refi so they didnt lose their homes!
It’s great news that there is another round of help for homeowners who are upside down on their loans. The last set of government help for homeowners didn’t affect many people at all.
Why a bank would not refinance to someone having trouble making payments is beyond me. Don’t they already have enough houses they can’t sell. If my bank didn’t work with my I was just gonna hand them the keys and say “here it’s your problem now”
It’s a shame not everyone is eligible for such an option, but what a great help to those who are. Thanks for the tip. I’ll pass it on…