Wednesday, March 4, 2009

Obama Administration's Housing Rescue Plan

Rena & I both are out of our jobs. As a consequence, our monthly mortgage payment is certainly above 31% our monthly gross income. Therefore, I have filled out the request to see whether Fannie Mae or Freddie Mac owns our mortgage loan.

HOPE, IT IS!

If it is, we are qualified and ready to apply. If we get any relief out of our (everyone's) 75 billions in each payment, we will certainly contribute to his administration's Stimulus Plan in a big way.

Note: Lenders must agree to reduce the loan payments to 38 percent of a borrower's monthly income. After that, the government and lender split the cost of bringing the payment down to 31 percent

5 comments:

sherah said...

I know someone in California who might be interested in finding out if their house is also owned by Freddie Mac/Fannie Mae and they too have lost their job. Where could I direct them to get this form?

Noel said...

First from your lender directly. Their name appears on your monthly statement.

In the meantime, you can use Internet and directly fill out the forms available on-line from Freddie Mac and Fannie Mae.

In it, your name, property address and your email address. They will reply you as soon as they can.

I have filled that out already.

Noel said...
This comment has been removed by the author.
Noel said...
This comment has been removed by the author.
Noel said...
This comment has been removed by the author.