Help The Middle ClassNews and Information For The Heart Of America
Homeowners Needing Help – Go To These Websites
If you’re a homeowner in trouble, here’s where you can go to get information on line:
Go to www.makinghomeaffordable.gov, the Web site that lets you determine eligibility, find housing counseling and estimate your lower payments and briefs you on the program before calling your loan servicers.
Owe more than it’s worth?
You could qualify for refinancing into a low-interest loan through Fannie Mae or Freddie Mac if they already own or back your home loan. Many people don’t even know if Fannie or Freddie hold their loans, so ask the lender.
You also can go to www.fanniemae.com, or call 800-732-6643, and www.freddiemac.com, or call 800-373-3343.
The refinancing will be available only to people whose outstanding loan amounts are no more than 105% of the current value of the home.
Start by answering these questions:
• Is the property your primary residence?
• Is the amount you owe on your first mortgage equal to or less than $729,750?
• Are you having trouble paying your mortgage?
• Did you get your current mortgage before Jan. 1, 2009?
If you can answer yes to all of those questions, you may be eligible for help under the Making Home Affordable Program.
