So you have heard of the government loan modification to assist homeowners in avoiding foreclosure, but what about someone who is current and wants to refinance and may not qualify for the program?

Well do not despair!! There is a program designed to assist the homeowner to be able to refinance.  What is and how do I qualify?  You can go to the www.makinghomeaffordable.gov website and do some light reading on the subject, but in a nut shell this is the criteria:

1)      one – four units may be eligible

2)      on your mortgage and have not been more than 30 days late within a 12 month period.

3)      may not exceed a loan to value of 125% of the current value of your home.

4)      to support a new mortgage payment and can prove affordability over a given time.

5)      Fannie Mae or Freddie Mac

How do I find out if my loan is owned by c? Also on the above mentioned website you can click on LOAN LOOK UP and enter some basic information and it will tell you if your loan is possibly owned by Fannie and or Freddie Mac.

You can also call your loan servicer or lender and ask, however, most likely they will tell you to send something in writing to request who your investor is who owns your mortgage loan.

There are on going changes to the government (s), my advice is book mark this page and pop in every once in awhile for updates.

IF you have not researched the loan modification process and are interested in learning more about the government’s loan modification program you can visit our blog for inside news and tips.  http://blog.freehampreport.com or our website to see if you maybe eligible for a loan modification assistance www.freeHAMPreport.com a FREE service.