Category — Mortgage Product
Refinancing For Homeowners Underwater Just Got Easier
Home Owners who owe up to 25% more than the value of their home will get help from Fannie Mae and Freddie Mac. The two government agencies have been authorized to help refinance homeowners who have been left out in the cold by the depreciating housing market.
Shaun Donovan, secretary of Housing and Urban Development, made the announcement in a statement yesterday. Currently Fannie Mae or Freddie Mac, through President Obama’s Home Affordable program, can refinance mortgages they own or guarantee when the loan is worth as much as 105 percent of the home’s market value.
Post Footer automatically generated by Add Post Footer Plugin for wordpress.
July 2, 2009 Steve SchraderBachar is a local mortgage planning expert who resides in Iowa and provides service to the clients of his mortgage planning practice across the Midwest. You can reach Steve at 1-515-289-4381 or 515-360-5197.
What is an ARM?
Do you have an ARM loan? Or, are you considering an ARM loan for your upcoming property purchase? The ARM loan has been discussed in greater detail in the past few years as many homeowners have faced increases in their interest rates after the fixed periods. The basic definition of an ARM loan is that the interest rate will adjust based upon indexes or time periods.
Post Footer automatically generated by Add Post Footer Plugin for wordpress.
May 1, 2009 Steve SchraderBachar is a local mortgage planning expert who resides in Iowa and provides service to the clients of his mortgage planning practice across the Midwest. You can reach Steve at 1-515-289-4381 or 515-360-5197.
