Potential Help For Homeowners

The recently passed American Recovery and Reinvestment Act of 2009 has created a plan to help millions of homeowners refinance or modify their mortgages.

Refinancing: Many homeowners pay their mortgages on time but are not able to refinance to take advantage of today’s lower mortgage rates perhaps due to a decrease in the value of their home. A Home Affordable Refinance will help borrowers whose loans are held by Fannie Mae or Freddie Mac refinance into a more affordable mortgage.

Modification: Many homeowners are struggling to make their monthly mortgage payments either because their interest rate has increased or they have less income. A Home Affordable Modification will provide them with mortgage payments they can afford.

Who is Eligible?

To learn more, please visit, http://www.financialstability.gov/. There is a tool to find if you are among the 7 to 9 million homeowners who can benefit from Making Home Affordable. Based on your results, the site will provide suggestions about what you can do next.