Making Home Affordable FAQs
1. I am current on my home mortgage. Can the Making Home Affordable Refinance help me?
2. How do you know if you are eligible?
3. How do I know if my mortgage loan is owned or has been securitized by Freddie Mac and Fannie Mae?
4. I owe more than my home is worth. Do I still qualify to refinance under the Making Home Affordable Refinance Program?
5. I have a first mortgage and a second mortgage. Can I still qualify to refinance under Making Homes Affordable program?
6. Will refinancing through the making home affordable program bring down my payment?
7. Will a making home affordable refinancing reduce the amount that I owe on my loan?
YES. The objective of the Making Home Affordable Refinance is to help homeowners get into loans which they can actually afford. Refinancing can reduce the principal amount you owe $5,000 over 5 years, the government will make 5 $1000 principle mortgage payments for you after each year of on time mortgage payments.
8. Will I be able to do a cash-out refinance?
9. How do I apply for a Making Home Affordable Refinance?
10. What documentation will I need to refinance under the making homes affordable program?
11. I am delinquent on my mortgage. Will I qualify for a Making Home Affordable Refinance?
12. Will I need mortgage insurance under the making homes affordable program?
13. How long will the Making Home Affordable Refinance be available?
The program is due to expires on June 10, 2010. Your refinance must be closed and funded on or before that date.
Making Home Affordable Refinance FAQs
Making Home Affordable FAQs
1. I am current on my home mortgage. Can the Making Home Affordable Refinance help me?
2. How do you know if you are eligible?
3. How do I know if my mortgage loan is owned or has been securitized by Freddie Mac and Fannie Mae?
4. I owe more than my home is worth. Do I still qualify to refinance under the Making Home Affordable Refinance Program?
5. I have a first mortgage and a second mortgage. Can I still qualify to refinance under Making Homes Affordable program?
6. Will refinancing through the making home affordable program bring down my payment?
7. Will a making home affordable refinancing reduce the amount that I owe on my loan?
YES. The objective of the Making Home Affordable Refinance is to help homeowners get into loans which they can actually afford. Refinancing can reduce the principal amount you owe $5,000 over 5 years, the government will make 5 $1000 principle mortgage payments for you after each year of on time mortgage payments.
8. Will I be able to do a cash-out refinance?
9. How do I apply for a Making Home Affordable Refinance?
10. What documentation will I need to refinance under the making homes affordable program?
11. I am delinquent on my mortgage. Will I qualify for a Making Home Affordable Refinance?
12. Will I need mortgage insurance under the making homes affordable program?
13. How long will the Making Home Affordable Refinance be available?
The program is due to expires on June 10, 2010. Your refinance must be closed and funded on or before that date.