fill
fill
fill
Debi Hensley
240-674-4666
Hensley.Debi@gmail.com
fill
fill
fill
fill
Debi Hensley
fill
240-674-4666
Hensley.Debi@
gmail.com
fill
fill
fill
fill
fill
fill
fill
fill
fill
fill
fill
fill
fill
fill
fill
fill
Buyers Info
fill
Sellers Info
fill
Owning Your Home
fill
Investing Advice
fill
Mortgage Info
fill
Neighborhood Info
fill
School Info
fill
Mortgage Calculator
fill
fill
fill

Programs to Help Struggling Homeowners

If you're having trouble paying your mortgage or facing a steep rate increase on an Adjustable Rate Mortgage (ARM) that you are unable to refinance because your home has lost value, there may be help for you now.  The Home Affordable Refinancing Program is designed for homeowners who are current on their mortgage but can't refinance because there isn't enough equity in their home.  There are some stipulations involved:

  • The mortgage must be guaranteed by Fannie Mae or Freddie Mac.
  • You must be current on all mortgage payments within the last year.
  • The amount of the first mortgage can't be more than 125% of the value of your home.

If you meet these conditions you may be able to refinance your mortgage at a lower interest rate or switch to a lower risk loan.  The Home Affordable Modification Program might be a solution if you are current on your payments but have experienced hardship that will soon cause you to fall late on your payments.  

Visit
Hope Now for more information about this program or to learn more about other programs available that are designed to help homeowners who have already fallen behind on mortgage payments or have entered into the foreclosure process.  There are a variety of resources listed on this website and the help is free of charge.  Call your lender to see what they may be willing to do for you.  Your lender can help you determine whether a simple refinance is the best solution, or if you need to consider requesting a mortgage modification.