Comments on: An Easy Way to Determine Eligibility for the “Making Homes Affordable” Refinance Program http://www.creditinfocenter.com/wordpress/2009/04/23/easy-way-determine-eligible-for-making-homes-affordable-refinance-program/ For the Up To Date News Tue, 07 Feb 2012 22:26:40 +0000 hourly 1 http://wordpress.org/?v= By: Cindy http://www.creditinfocenter.com/wordpress/2009/04/23/easy-way-determine-eligible-for-making-homes-affordable-refinance-program/comment-page-1/#comment-3169 Cindy Sat, 07 Nov 2009 18:16:51 +0000 http://www.creditinfocenter.com/wordpress/?p=1092#comment-3169 Guess if it isn't Freddie or Fannie you're still screwed because they don't seem to be doing more than TRIAL mods for everyone else. I've been in one for months and they show no move to FINALIZE the offer they made to me. I did my part, but you know if they aren't forced to do their part why would they? They can deny me and steal my house now? Guess if it isn’t Freddie or Fannie you’re still screwed because they don’t seem to be doing more than TRIAL mods for everyone else. I’ve been in one for months and they show no move to FINALIZE the offer they made to me. I did my part, but you know if they aren’t forced to do their part why would they? They can deny me and steal my house now?

]]> By: Scott Ksobiech http://www.creditinfocenter.com/wordpress/2009/04/23/easy-way-determine-eligible-for-making-homes-affordable-refinance-program/comment-page-1/#comment-1816 Scott Ksobiech Sat, 16 May 2009 21:46:37 +0000 http://www.creditinfocenter.com/wordpress/?p=1092#comment-1816 "The first hurdle is your mortgage must be underwritten by Freddie Mac, of Fannie Mae". This is NOT CORRECT! There are two options/parts to the Obama plan. With the fist option/part, the the home owner refinances into a new mortgage. This is is the part that the home owners current mortgage must be under written by Freddie, or Fannie to qualify. With the second option/part, the mortgage is restructured. With this option the home owner works out a mortgage restructure with the mortgage lender that results in lower monthly payments. It is not a new mortgage! With this option the original mortgage DOES NOT HAVE TO BE UNDER WRITTEN BY FREDDIE, OR FANNIE! Any mortgage lender is free to participate in it! All the mortgage lender has to do is to participate in it. It is VOLANTARY. It is up to the mortgage lender. However, if the home owners mortgage is underwritten by Freddie, or Fannie, then the mortgage lender has no choice. The mortgage lender must participate and must restructure the mortgage according to the guide lines of the plan. If you are going to post information on the Government assisted programs, GET YOUR FACTS RIGHT!!!! “The first hurdle is your mortgage must be underwritten by Freddie Mac, of Fannie Mae”.

This is NOT CORRECT!

There are two options/parts to the Obama plan. With the fist option/part, the the home owner refinances into a new mortgage. This is is the part that the home owners current mortgage must be under written by Freddie, or Fannie to qualify.

With the second option/part, the mortgage is restructured. With this option the home owner works out a mortgage restructure with the mortgage lender that results in lower monthly payments. It is not a new mortgage! With this option the original mortgage DOES NOT HAVE TO BE UNDER WRITTEN BY FREDDIE, OR FANNIE! Any mortgage lender is free to participate in it! All the mortgage lender has to do is to participate in it. It is VOLANTARY. It is up to the mortgage lender. However, if the home owners mortgage is underwritten by Freddie, or Fannie, then the mortgage lender has no choice. The mortgage lender must participate and must restructure the mortgage according to the guide lines of the plan.

If you are going to post information on the Government assisted programs, GET YOUR FACTS RIGHT!!!!

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