Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Fannie Mae Expands Program To Help Borrowers Refinance Up To 125% of Value of Their Homes
 
 As announced earlier this year, the Fannie Mae HARP refinance program has now been expanded to allow more homeowners the option to refinance and take advantage of historically low interest rates. The big recent news from the expansion is an expansion to help borrowers who are even more upside down in their homes refinance.
 
                        As mentioned previously, the program does have a few levels of criteria that homeowners must meet in order to qualify. First, it doesn’t matter who the homeowner currently make their payments to, but the loan must be owned by Fannie Mae. In order to check and see if your home loan is currently owned by Fannie Mae you can quickly go to: http://www.fanniemae.com/loanlookup/ and input your address for immediate results.
 
            Next, the loan must have been originated prior to June 1, 2009. The reasoning behind this is that in the past two plus year’s interest rates and have values have both dropped and so the program is aimed at homeowners who already have Fannie Mae loans, but haven’t been able to refinance to current market interest rates.
 
            Finally, the existing mortgage loan must not have mortgage insurance included ... more

__________________________________________________
Are you on The Rain? Grow Your Network!