Gainesville Short Sales – Freddie Mac Relief Save Your Home
Gainesville Short Sale – Freddie Mac LP Relief Program Can Save Your Home
If you are a homeowner in distress with your Freddie Mac loan – you currently have an upside down mortgage or currently have an adjustable rate mortgage where payments continue to increase, then the Freddie Mac LP Relief Program is just what the Dr. ordered.
Gainesville short sale agents reveals the insider information on the new Freddie Mac Relief Refinance Mortgage, it is the Home Affordable Refinance Program (HAFA). It offers aid from simplified appraisal requirements, standard mortgage insurance, and no maximum loan to value ratios.
For borrowers who make on-time payments yet are unable to refinance because of declining Gainesville property values, the Freddie Mac LP Relief Program may save your day by helping you to refinance into a better mortgage so you will be eligible for long term successful home ownership.
Gainesville homes for sale showcases this new program and its new extensions:
Eligibility requirements for mortgage:
You must be a first lien, owned by Freddie Mac.
Your Freddie Mac closing must be on or before May 31, 2009.
You must be seasoned for a span of three months.
The mortgage being refinanced is eligible for refinancing if it has mortgage insurance.
The mortgage being refinanced is ineligible for refinancing if the mortgage has recourse, indemnification or other credit enhancements.
Benefit for borrower (must result in one of the given benefits)
You will receive a reduction in interest rate.
You will receive a replacement of an ARM.
You will receive a reduction in the amortization term of the first lien mortgage.
You will receive a reduction in the monthly principle and interest payment of the first lien.
No maximum LTV (Loan to Value) ratio for fixed-rate mortgages
For ARMs, the maximum LTV ratio is 105 percent.
For mortgages with LTV ratios lower than or equal to 80 percent, the maximum TLTV or (HTLTV High Loan to Value) ratio is 105 percent.
For mortgages with LTV ratios higher than 80 percent, no maximum TLTV and HTLTV ratios will exist.
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Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.
Please seek legal advice. This information is for informational purposes only.
Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents