Obama Home Mortgage Refinance Program for 2011
The Federal Housing Finance Agency declares Monday that the Home Affordable Refinance Program will now extend another year. Scheduled to end on June 10, it will now be accessible for one year longer with a new end date of June 30, 2011.
By: Raksh martin
Presently, about 220,000 homeowners have refinanced their home through this program hiring them save long-term dollars on their mortgage costs. The home refinance program was set up with the purpose of helping 4 to 5 million homeowners. Are you one of the millions still to be assist by this program?
Eligibility for the Obama’ Home Refinance Program is based on the following criteria:
* You must be the holder of a one- to four-unit home.
* Loan must be an possess or backed by Freddie Mac or Fannie Mae.
* No over 30 days late on your mortgage payment in the past 12 months.
* First mortgage does not go above 125% of the present market price of your home. For example you owe $125,000, but your present home value is $100,000.
Take advantage of the Obama’s Home Refinance Program continuing for another year
Speak to your lender to decide if your loan is Freddie Mac or Fannie Mae. Talk about the refinance program with your lender to make confident you qualify and to find out the steps essential to home refinance.
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Financial aid in the form of refinancing may be just approximately the corner. Remember, though, that mortgage scams are common these days, so be cautious of any third party that assure to help you http://www.loansstore.com/