The Homeowner Affordability and Stability Plan was signed into law on Feb 17th, 2009.
COMING VERY SOON
We are working hard to put this into play for homeowners. 

This plan is designed to help:
1)  Loan modification– Borrowers who are at risk of foreclosure or with high debt-to-income ratios for qualifying may re-structure their current mortgage through a loan modification.
2)  Refinance– Borrowers who lost value in their home and are currently ineligible to refinance will be able to if they have been current on their existing mortgage payments on their Fannie Mae or Freddie Mac loan. 

More details are expected to be announced by next Wednesday, March 4th, at which time Choice Finance^® may begin accepting refinance applications.

 As we know more we will let you know..  This is great news and will help lower monthly mortgage payments for so many people right now given the low interest rates available.

-
David Wexler, Choice Finance^®

This entry was posted on Friday, February 27th, 2009 at 9:33 am and is filed under 1) Questions for Loan Officer. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.