Have you tried to refinance your loan to a lower rate recently only to be told you don't have enough equity or your credit scores are too low?
If your loan is currently owned by Fannie Mae or Freddie Mac there may be help on the horizon. Fannie is releasing a program called DU Refinance Plus and Freddie is releasing a program called the Freddie Mac Relief Refinance. In each case lenders will start easing restrictions on lending to allow people who are current on their mortgages to take advantage of the low rates available today.
The most important facet of the programs is that they allow for high loan to values(LTV). This is especially important in a market with declining property values such as ours.
Full implementation of the programs will begin on May 1, 2009. You may go on one of the following websites to see if your loan qualifies for one of these programs:
http://loanlookup.fanniemae.com/loanlookup/
https://ww3.freddiemac.com/corporate
If you find out you are eligible and want to see if you qualify for a lower rate, contact me early as I expect this program will get flooded once implemented.
Zeke Schmus
Platinum Mortgage Partners
Office#: (808) 792-7638
Fax#: (808) 792-7639
Cell: (808) 372-1929
Email: zeke@pmphi.com
If your loan is currently owned by Fannie Mae or Freddie Mac there may be help on the horizon. Fannie is releasing a program called DU Refinance Plus and Freddie is releasing a program called the Freddie Mac Relief Refinance. In each case lenders will start easing restrictions on lending to allow people who are current on their mortgages to take advantage of the low rates available today.
The most important facet of the programs is that they allow for high loan to values(LTV). This is especially important in a market with declining property values such as ours.
Full implementation of the programs will begin on May 1, 2009. You may go on one of the following websites to see if your loan qualifies for one of these programs:
http://loanlookup.fanniemae.com/loanlookup/
https://ww3.freddiemac.com/corporate
If you find out you are eligible and want to see if you qualify for a lower rate, contact me early as I expect this program will get flooded once implemented.
Zeke Schmus
Platinum Mortgage Partners
Office#: (808) 792-7638
Fax#: (808) 792-7639
Cell: (808) 372-1929
Email: zeke@pmphi.com
Posts
No comments:
Post a Comment