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The Obama Administration has introduced a comprehensive Financial Stability Plan to address the key problems at the heart of the current crisis and get our economy back on track. A critical piece of that effort is Making Home Affordable, a plan to stabilize our housing market and help up to 7 to 9 million Americans reduce their monthly mortgage payments to more affordable levels.
The Home Affordable Refinance Program gives up to 4 to 5 million homeowners with loans owned or guaranteed by Fannie Mae or Freddie Mac an opportunity to refinance into more affordable monthly payments. The Home Affordable Modification Program commits $75 billion to keep up to 3 to 4 million Americans in their homes by preventing avoidable foreclosures.
If you answer yes to any of the below questions you may be eligible for this Loan Modification Program:
- Is your home 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?
- Is your payment on your first mortgage (including principal, interest, taxes, insurance and homeowners association dues, if applicable) more than 31% of your current gross income?
If you answered “yes” to all the above questions you may be eligible for this program.
Please contact a local Help-U-Sell Office now to learn more. |
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