Making Home Affordable Refinance

As I mentioned a few weeks ago, President Obama’s American Recovery and Reinvestment Act included a new program for struggling home owners.  The existing modification program for those who are delinquent is still available, but now there is a program geared towards those who have continued to be responsible with their mortgages, but simply don’t have the equity in their home to take advantage of today’s low interest rates.

The website financialstability.gov has been around since the signing of the new bill, but the Obama Administration has yet again expanded what I’m calling the “Government 2.0″ efforts with the new website makinghomeaffordable.gov.  This website allows home owners to check eligibility for the new program and offers a handful of other helpful tools.

Although the program will only help a select group of Americans with Fannie Mae or Freddie Mac loans the website will likely be a good resource for those who are struggling.

As with any real estate or mortgage related questions, I am here for you.  If you have any questions regarding any of these new programs or about your current financing scenario please don’t hesitate to contact me.