FANNIE, FREDDIE ANNOUNCE MAKING HOME AFFORDABLE INITIATIVES
Fannie Mae today began making two new initiatives, Home Affordable Refinance and Home Affordable Modification, available to its servicers and borrowers as part of the Obama Administration's Making Home Affordable program.
The two initiatives are designed to significantly expand the numbers of borrowers who can refinance or modify their mortgages to a payment that is affordable now and into the future. Details are available at http://www.fanniemae.com/newsreleases/2009/4631.jhtml;jsessionid=1AI52Q21C4Z03J2FQSISFGA?p=Media&s=News+Releases.
Freddie Mac also announced two new mortgage initiatives, tied to the Making Home Affordable plan, designed to help families with Freddie Mac-owned mortgages who are delinquent, at-risk of default, or struggling to refinance because of declining property values.
The new initiatives include Freddie Mac's Relief RefinanceSM Mortgage and the implementation of the Obama Administration's new Home Affordable Modification program. Details are available at www.freddiemac.com/news/archives/servicing/2009/20090304_relief-refi-mtge.html.
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