Thursday, April 9, 2009

Are You Eligible For Obama's Refinance Plan?

President Obama released new guidelines on March 4, 2009 for his "Making Home Affordable" initiative, that will help up to 9 million homeowners stay in their home through refinancing a mortgage or modifying a loan.

To be able to qualify one must:
  • Owe between 80-105% of a mortgage.
  • Have a loan backed up by Fannie Mae or Freddie Mac
  • Have a conforming loan
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