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The President Obama's Plan for homeowners...

Fannie Mae's Home Affordable Refinance – new refinance options for existing Fannie Mae loans–DU Refi Plus.


DU Refi Plus is a refinance of an existing Fannie Mae mortgage loan by any Fannie Mae approved lender. The new DU Refi Plus refinance option is intended to assist borrowers by providing a benefit to ensure long-term homeownership sustainability by either:

  • A reduced monthly mortgage principal and interest payment; or...
  • A more stable mortgage product, for example, movement from an ARM to a fixed-rate mortgage. (Note: lenders are encouraged to provide fixed-rate mortgages to a more stable mortgage product, borrowers whenever possible). The maximum LTV ratio for DU Refi Plus is 105 percent. There is no maximum CLTV or HCLTV.
  • New subordinate financing is not permitted in conjunction with a DU Refi Plus or Refi Plus transaction.

Is your loan owned by Fannie Mae?
http://loanlookup.fanniemae.com/loanlookup/

Freddie Mac’s ‘Making Home Affordable Program’ – two options to help you keep your home.

In support of President Obama's ‘Making Home Affordable Program’, Freddie Mac offers two options to help you keep your home:

  • Home Affordable Refinance: This option can help you refinance into a more affordable mortgage if you're paying your mortgage on time but you're unable to refinance to a lower rate because you owe more on your mortgage than your home is currently worth.
  • Home Affordable Modification: This option can help you get mortgage payments you can afford if you're delinquent in making your monthly mortgage payments, in the foreclosure process, or current on your payments but have recently experienced hardship and you are about to miss a payment.

Does Freddie Mac own your loan?
https://ww3.freddiemac.com/corporate/

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American Lenders helped us get a loan after we had applied at our bank and was turned down, they were very knowledgeable and helpful through the whole process. It was a very stressful process that was made easier, thank you American lenders.
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I want to thank the wonderful people at American Lenders for all the help in getting the loan that was right for us, they had many options for us. We would highly recoment them to anyone that is looking for a loan.
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