Obama home loan modification details released

Friday, March 20, 2009

A new government website has been unveiled to help homeowners who are struggling to afford their homes. It is www.makinghomeaffordable.gov.

Borrowers are encouraged to use this website to:

• learn if they are eligible for a refinanced loan or a loan modification
• learn who their loan servicer is
• learn if their lender or loan servicer is participating in the program

The Making Home Affordable Plan by the Obama Administration offers two major options:

• Refinancing for those homeowners whose mortgages are owned or securitized by Fannie Mae or Freddie Mac and who are not delinquent (behind) on their loans, and
• Loan Modification for those who are delinquent on their loan or who are likely to be soon.

Visit the site, Making Home Affordable, to learn if these programs can help you.