Is your loan a Freddie Mac or Fannie Mae and why you need to know this:

Many homeowners who are able to pay their mortgage on time feel they are stuck in their home forever because they are not able to sell it for market value nor are they able to refinance and take advantage of today's low interest rates because their home is worth less today than what they paid for it initially.

The Making Home Affordable Program gives eligible homeowners with loans owned or guaranteed by Fannie Mae or Freddie Mac the opportunity to refinance into more affordable monthly payments.

Both Fannie Mae and Freddie Mac provide "Loan Look Up Tools" on their websites for homeowners to check if their loan is owned or guaranteed by either of the companies:

Freddie Mac Loan Look Up Tool
Fannie Mae Loan Look Up Tool