Am I eligible for government help to refinance my home mortgage loan?
To help stabilize the housing market, the federal government has launched the Making Home Affordable program that will help up to 9 million homeowners refinance their loans. If your mortgage is securitized by Fannie Mae or Freddie Mac, you may qualify for refinancing. Help is available for homeowners who are struggling to pay their mortgages, or for homeowners who have experienced a decrease in their home’s value.
To find out if your home mortgage is secured by Fannie Mae or Freddie Mac, and if you qualify for refinancing, go to the Making Home Affordable website at http://www.makinghomeaffordable.gov.
BEWARE OF FORECLOSURE SCAMS. Making Home Affordable will never charge a fee for information or assistance. Always work with your current mortgage lender when negotiating refinancing, or when making payments or transferring your deed. For more information about foreclosure scams and how to avoid them, see http://www.makinghomeaffordable.gov/beware.html.
Lisa Hamilton-Hill, Graduate Research Assistant, Architectural Studies, University of Missouri Extension
Last update: Monday, May 18, 2009