President Obama's Helping Families Save Their Homes, Home Affordable Refinance Program is set to expire
June 30, 2012.
UPDATE, The Obama Administration has extended the program to December 31, 2013.
May 20th, 2009
President Obama signed the Helping Families Save Their Homes Act: "The Helping Families Save Their Home Act advance the goals of our existing housing plan by providing assistance to responsible homeowners and preventing avoidable foreclosures."
This bill is about, "getting folks into sustainable and affordable mortgage, and more importantly, keeping them in their homes. and it expands the reach of our existing housing plan for homeowners".
- President Barack Obama
Call us at (877) 435-2478 to verify eligibility and to determine if your mortgage is owned by Fannie Mae or Freddie Mac.
The preferred lender will require borrowers’ credit report to verify financial information and an appraisal of the home may be required. The lender will notify you of your eligibility typically within 24 hours of your formal application.
Final Home Affordable Refinance Program application approval may take up to 10 buisness days from receipt of your signed application. Once a decision has been reached, you’ll receive a letter informing you of your eligibility. If approved, you will receive a call to schedule the closing of the loan.
The closing process will be completed by a notary/attorney typically in the comfort of your own home or other location of your choice. You will sign the closing documents and be required to pay the closing costs at this time, unless some or all of your closing costs can be financed into the loan amount.
Check to see if your home loan is owned by Fannie Mae or Freddie Mac
1-800-7FANNIE (8am to 8 pm EST)
1-800-FREDDIE (8am to 8 pm EST)
The Departments of the Treasury & Housing and Urban Development Making Home Affordable site: