Upside Down Mortgage

Mortgage Relief Requirements

Question: What if my mortgage is not backed by Fannie or Freddie and I want to apply for relief?

I meet all requirements except that my loan is not backed/owned by Fannie Mae or Freddie Mac. I repeat, all other requirements are met. Do I have any options? I could really use the restructuring, My income has fallen about 60% and I am burning through what little is left of my savings very quickly.

Answer: You need to contact your lender. The stimulus plan includes the provision of awarding lenders 1500 to restructure your loan.

Senate Democrats Announce Subprime Mortgage Relief Legislati

If you're new around here, you might want to subscribe to our Upside-Down Mortgage RSS feed. It's quite likely the only feed of it's type on the internet!