The Fannie Mae DU Refi Plus home loan program is extended through this year and into 2012. This program may be able to help you refinance if you owe more than your home is worth. Check out this quick video:
The Fannie Mae DU Refi Plus – Basics
First of all, you need to make sure that your current loan is owned by Fannie Mae. You can check that at Fannie Mae’s website. All you need is your full address.
You also need to be on time with your mortgage payments. If you are behind in your mortgage, you will need to discuss loan modification or other options with your lender.
The biggest impediment when discussing the DU Refi Plus program is the issue of mortgage insurance. The best case scenario is if you do not have mortgage insurance on your current home loan.
If you need to figure out your options when it comes to refinancing your home in Oregon or Washington, shoot me an email. You may not always like the answer, but knowing is better than the alternative.
Thanks for taking a minute to check this post out!