Making Home Affordable Program- Idaho

Posted by Andy Radke
March 31, 2009

The Making home affordable program announced on March 4th 2009 has two features, the Making Home Affordable Refinance and the Home Affordable Modification.

The Making Home Affordable Refinance is geared towards helping individuals who have currently been making their mortgage payments but are unable to refinance because of existing MI coverage requirements and the decline in home values. The Making Home Affordable Refinance is for Fannie Mae to Fannie Mae refinances only,so if your current loan is not with Fannie Mae then you would not be eligible for the program. The program also allows you to borrower up to 105% of the value of your home.

The Making Home Affordable Modification program is for borrowers who are in default, at risk of imminent default, or in foreclosure can have their loans modified to a more affordable monthly payment equal to a target 31 percent of their monthly gross income.

If you or anyone you know has missed out on being able to refinance their home because of existing MI coverage requirements and the decline in home values, and would like to look into refinancing with the Making Home Affordable Program give me a call and I can answer any questions.

Andy Radke
Mortgage West
Loan Officer
Direct: 208-859-5825
LoanswithAndy@gmail.com

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