Where to find the best mortgage refinancing
If you've been reading the news lately, you've heard of Obama's smoking hot mortagage refinancing initiatives.
No Extensive Underwriting Requirements
Even if you have less than perfect credit, you will still qualify.
Here are some key points of Obama's mortgage rules:
No extensive underwriter requirements
Mortgage must be current
Fannie Mae and Freddie Mac will waive fees
No matter how far underwater you are on your current mortgage, you will still qualify for a refinance.
Mortgage Must Be Current
One missed payment within the past six months makes you ineligible. Even if your lender told you to stop making payments, you are still ineligible.
Fannie Mae and Freddie Mac Will Wave Fees
Your loan must be owned by Freddie or Fannie in order to qualify at all under this plan. The loan has to have been sold to Fannie or Freddie before June, 2009. Find out if your loan is owned by Freddie Mac or Fannie Mae prior to signing up for this new plan. Fannie and Freddie will waive some of the fees associated with closing to reduce the cost of refinancing.
To look for the best mortagage refinancing, check our site sponsors or bankrate.com.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Ontario Finally Moves to Douse Real Estate Inferno | Financial Sense
- Bob Prechter Warns Market Correction "Larger Than The Malaise Of The '30s" Looms | ZeroHedge
- The State of the Dollar Bull Market | Financial Sense
- What Trump Tax Plan? Key Senate Panel Has Not Even Seen It | ZeroHedge
- China, India, and Japan Are Very Interested in Sri Lanka – Here’s Why | Financial Sense
- Deutsche Bank: "It Was Good While It Lasted" | ZeroHedge
- Yesterday's Broad Power Outage Likely Caused By Geomagnetic Storm | ZeroHedge
The most relevant financial news and articles from the Internets
- Treasury Secretary Mnuchin calls on the IMF to enhance surveillance of... | Business Insider
- Icelandic is at risk of becoming an extinct language... | Business Insider
- Palantir, the War on Terror's Secret Weapon | BusinessWeek
- DHS head John Kelly says the US is not... | Business Insider
- How to Build a Robo Advisor: Advice for Starting a Robo... | Business Insider
- 'The Fate of the Furious' runs over everyone to win the box office for... | Business Insider
- America's Best Young Entrepreneurs 2011 | BusinessWeek