If you are a homeowner who is current on your mortgage payments but unable to refinance to a lower interest rate because your home value has decreased, you may be able to refinance.
Am I eligible for a Home Affordable Refinance? Answer these questions:
1. Are you the owner of a one- to four-unit home? Yes No
2. Do you have a loan owned or guaranteed by Fannie Mae or Freddie Mac? If you don’t know, click here. Yes No
3. Are you current on your mortgage payments? “Current” means that you haven’t been more than 30-days late on your mortgage payment in the last 12 months. Yes No
4. Do you believe that the amount you owe on your first mortgage is about the same or less than the current value of your house? Yes No
If you answered yes the all four questions you qualify. Click here
