Fannie Mae has clarified its implementation of the Obama Administration Making Home Affordable Plan announced on March 4, 2009. The refinance pice of the Obama plan–Home Affordable Refinance–is for borrowers with an acceptable payment history who have been unable to refinance to lower rates or a more stable loan due to declines in property values.
It will be called “Refi Plus” by Fannie Mae. Here is a Q&A for consumers about “Refi Plus“, and here is the link to look up your current loan to see if you qualify.
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