Are all loan types eligible for the Home Affordable Refinance and Home Affordable Modification options? What about FHA/VA/USDA loans?

0
Posted

Are all loan types eligible for the Home Affordable Refinance and Home Affordable Modification options? What about FHA/VA/USDA loans?

0

The refinancing option is only available for conforming loans owned or securitized by Fannie Mae and Freddie Mac. Most conventional loans including prime, subprime, adjustable, loans owned by lenders and loans in securities are eligible for a Home Affordable Modification. The Administration is working with Congress to enact legislation that will allow FHA, VA and USDA to offer modifications consistent with Making Home Affordable. Currently loans insured or guaranteed by these agenciesenable borrowers to retain homeownership.

Related Questions