MakingHomeAffordable.gov

March 20, 2009 by
Filed under: Blog Entries, Community, General, Obama, Our Rights, Personal Finance, Politics, Society & Culture, Technology 

President Obama is putting web designers to work with ANOTHER website! To ensure that everyone who can take advantage of the President housing plan can do so, the Administration launched MakingHomeAffordable.gov – a site where you can find out everything you need to know about the President’s plan and whether you qualify. As it stands only loans owned or guaranteed by Fannie Mae or Freddie Mac are eligible. If you are not sure who owns your loan, you can contact Fannie Mae and Freddie Mac directly by clicking on the links below and completing the forms for each company.

Fannie Mae

Freddie Mac

Be sure to check out the calculator that allows homeowners to estimate the possible reduction to their monthly mortgage payment they might receive under the plan. To see the press release of the new website visit the whitehouse.gov blog.

 

Tags:

Comments

10 Comments on MakingHomeAffordable.gov

  1. Martha taylor on Sun, 22nd Mar 2009 8:27 pm

    2. I tried talking with countrywide about refinance my loan. I was informed that I was not eligible if my investor was not Fannie Mae,or Freddie Mac. MY
    frist loan is listed under investor CW Bank according to Countrywide. second loan listed with Freddie Mac. I have no ideal who is CW Bank,is unless it is countrywide who is the investor, however b/c my second loan is listesd with Freddie Mac would I be eligble for Making Home Affordable.

  2. theo.johnson on Sun, 22nd Mar 2009 9:36 pm

    3. Martha, thanks for leaving your comment. I would try calling anyway. Since the mortgage is broken up into two loans, I’m not sure what they would do. I’ll see what I can find, but try calling. I’d be interested in knowing what they’d say. If I don’t find out before you, please let us know what you find out.

  3. theo.johnson on Thu, 26th Mar 2009 11:07 am

    4. Martha, I called Freddie Mac out of curiousity and got a very nice rep who helped explain it a little. She said you need to talk with the lender and they need to contact the servicer for your loan. The program from what I understood is not given directly to you. It’s an option for the lender to offer you.

    I’m thinking you may be eligible for the program, but because I don’t have all the details, I’d recommend calling the number above to find out. Stay on them and keep trying.

  4. Laurie Mooney on Thu, 2nd Apr 2009 4:23 pm

    5. My income has decreased by 30% since I got my mortgage in 09/08. I am not behind in my payments but interest is 6.325% and I want to know if I qualify for modification or refinance of loan. Thank you. Laurie Mooney

  5. theo.johnson on Sat, 4th Apr 2009 4:36 pm

    6. Hi Laurie,

    Mortgage rates are at an all-time low. Whatever bank owns your loan check with them. Most of the time you can check online to see what refinance rates are being offered for the day.

  6. Susan on Wed, 8th Apr 2009 9:59 am

    7. I am wondering why the links on THIS page to look up if our loan is a Freddie or Fannie Mae do not work?

    And how does someone access the http://www.makinghomeaffordable.gov website? Every time I try to go there, it says I need a user name and password but there is no way to register for it. Please help!

  7. theo.johnson on Sat, 11th Apr 2009 12:45 am

    8. Susan, thanks for pointing out the link issue. I’ve fixed them and they should work now. Normally I check that. To check for eligibility go to http://www.makinghomeaffordable.gov/eligibility.html

    It shouldn’t ask you for a username and password.

  8. Raymond Shaw on Tue, 14th Apr 2009 12:47 pm

    9. I am 67 years old. I have a first mortage of $3887.74 each month , 30 year fixed. No second. Thats $46,652.88 per year. I normally make about $120.000 per year and at that income the payment is affordable but last year I made less than $65,000.
    00 and the year before was not much better. I have had home loan payments for over 30 years and have never even been late on even one payment. My home has a loan of $516,000.00 and I have been at this address for 10 years. I need some help. Can you help me. I have 8 employees and at my machine shop and its getting harder to make it each month. Raymond Shaw

  9. Renata H. on Wed, 20th May 2009 1:24 am

    10. Great site! I am loving it!! Will come back again – taking your feeds also, Thanks.

  10. Lisa S. on Wed, 20th May 2009 1:31 am

    11. You made some good points there. I did a search on the topic and found most people will agree with your blog.

Tell me what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!