Well at long last the government with their wisdom has put together the Homeowner Affordability and Stability Plan or Making Home Affordable Plan. Per the press release this plan is suppose to offer assistance to 7 to 9 million homeowners by making their mortgages more affordable and helping to prevent the destructive impact of foreclosures on families, communities and the national economy. The backbone of the Homeowner Affordability and Stability Plan is based on whether or not your existing mortgage is owned by Fannie Mae or Freddie Mac. It seems that people are having a hard time finding out who truly owns their mortgage. Please see the links below for help.

To see some of the details of the plan click here: Homeowner Affordability and Stability Plan summary

To see if Fannie Mae owns your loan click here: Fannie Mae Search

To see if Freddie Mac owns your loan click here: Freddie Mac Search

I hope this helps! Although not my preferred plan at least it is something.

If you are looking for a trustworthy lender to refinance a loan or get a new mortgage with send me and email and I will get you the contact information for the folks we use, they are really good. It is a good idea to shop around so don't just take my word for it!

Jeff Gould
CENTURY 21 Beggins
jeffgould@century21beggins.com