Hope for those that are underwater with their mortgages
Upside Down or Underwater with your Mortgage?
“WASHINGTON – U.S. Housing and Urban Development Secretary Shaun Donovan today announced an expansion of the Obama Administration’s Home Affordable Refinance Program to include participation by borrowers who are current but up to 125 percent underwater on their mortgage. Under authorization provided by the Federal Housing Finance Agency, borrowers whose mortgages are currently owned or guaranteed by Fannie Mae and Freddie Mac will now be allowed to refinance those loans according to the terms of the Home Affordable Refinance program established earlier this year.” – U.S. Department of Housing and Development, July 1, 2009
Read More: Home Affordable Refi Program Expanded
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