Washington, DC – The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac will offer a new, simplified loan modification initiative to minimize losses and to help troubled borrowers avoid foreclosure and stay in their homes.
Less Paperwork
Beginning July 1, servicers will be required to offer eligible borrowers who are at least 90 days delinquent on their mortgage an easy way to lower their monthly payments and modify their mortgage without requiring financial or hardship documentation.
For Fannie Mae or Freddie Mac Loans
The program is available to those homeowners with loans owned or guaranteed by Fannie Mae or Freddie Mac. Click on these links to see if your loan is owned or guaranteed by Fannie Mae or Freddie Mac.
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