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Are You Able to Refinance?

By
Real Estate Broker/Owner with Real Living GreatWest

Recently GreatWest GMAC Professionals, are hearing from many homeowners who have found themseves in a situation they would never have dreamed of a few years ago.  They had purchased their homes in good faith, and had stayed current on payments, and they managed to keep their jobs.  BUT, because of declining home values brought on by the current housing crisis, they are unable to refinance and take advantage of current lower interest rates, because their homes are worth less than what is now owing on them.

The government has just come out with a new plan, to try to allow many who don't qualify to refinance, to a lower interest rate, the ability to do so.  If you wonder if you or your clients qualify for a refinancing program, have them click here.

Additionally, many wonder if their loans are held by Fannie Mae or Freddie Mac, you can click here to find out.