obama refinance home loan

Under President Obama’s "Making Home Affordable" plan, loan relief is available to approximately 9 million homeowners across the country. The plan was designed to help stabilize the struggling real estate industry. It essentially offers aid for many Americans to lower their monthly mortgage.

Fannie Mae's DU Refi Plus program allows homeowners who owe more. to refinance into today's lower rates without adding PMI to their new loan regardless of LTV.. This initiative is part of President Obama's stimulus package designed to.

home equity loan vs 401k loan Borrowing against your 401(k) plan should be carefully considered vs. alternative options. There are other ways to afford a home renovation that present less risk to your current income and future plans. A home equity loan borrows against the equity built in your home. home equity can be accessed in the form of a loan or a line of credit.

In early 2009, the Obama administration announced a program called making home Affordable. This program, also called the Obama Mortgage, is expected to help nine million homeowners keep their homes and avoid foreclosure through refinancing and modified loans designed to lower monthly mortgage payments.

Next, I got the special “making home affordable” refinance program. I came away with the impression that doing a refinance for a Freddie Mac home loan.. on the loan which disqualifies it from the Obama Refi guidelines.

 · If you have a loan that’s too expensive or too risky to live with, you often can refinance into a better loan. Things may have changed since you borrowed money, and several ways may be available for you to improve your loan’s terms. Whether you’ve got a home loan, auto loans, or other debt, refinancing allows you to shift the debt to a better place.

There are two aspects to the obama mortgage: refinancing and loan modification. Revisions to VA-Guaranteed Cash-Out Refinancing Home. – refinance an existing va-guaranteed home loan and all TYPE II refinancing loans. A loan is considered seasoned on the later of the date that is: (a) 210 days.

Under the new guidelines announced tuesday, the FHA will now approve purchase and refinance mortgage applications in states that. the FHA move on PACE liens is part of a larger effort by the Obama.

If you refinance, that lien would get paid off after the home equity loan you already have. Unless the two lenders can work around that, your refi .. When You Have a Second Mortgage · Wall Street Journal: 12 Questions on Obama's Refi Plan.

“The suspension of the premium reduction has created uncertainty and confusion for a significant number of borrowers, sellers, lenders and underwriters who entered into a new or refinance mortgage.

what do lenders look at for a mortgage Mortgage Lenders at Merchants Bank – Meet our team of Mortgage Lenders, who can help provide personalized mortgage and home loan options that align with your financing needs. For more information about a specific mortgage lender, click on the "get to know you" link.