So you want to refinance your house, but it's not worth enough for you to get a good loan in the current market? A new Obama administration program is designed to fix that problem for Millions of homeowners.
Through June 2010 borrowers whose loans are owned or guaranteed by Fannie or Freddie may be able to get quick refinance for up to 105% of a homes value. They must be current on their mortgage payments, but administration officials estimate that as many as 5 million homeowners qualify. Refinance are available for borrowers with credit score as low as 620
This is going to create a real opportunity for millions of people to save money on their mortgages or replace an adjustable-rate mortgage with a fixed rate, "Freddie Mac spokesman Brad German said. The impatient can go to http://makinghomeaffordable.gov a federal website that explains the refinance program. For others please contact Robert Vaughan with Affinity Lending Group.
Thank you,
Robert Vaughan
Vice President
Affinity Lending Group
Comments(0)