I just learned of a great site that gives an overview of the Making Home Affordable program launched on March 4.   The site will walk you through a series of questions to help you determine if you are eligible, and it answers a variety of questions about how the program works.  The links I posted here earlier to the Fannie Mae and Freddie Mac sites that tell you if one of them owns your loan are also on the Making Home Affordable site.

Just to recap, the Making Home Affordable program was launched by Fannie Mae & Freddie Mac on March 4th as a way of helping American homeowners work through financial difficulties caused by upwardly adjusting interest rates on mortgage loans and/or declines in home values that make it difficult for a homeowner to refinance into a lower interest rate loan.  One of the goals is to bring home mortgage payments down to no more than 31% of a family’s income.  It applies to any loan currently held by Fannie Mae, Freddie Mac, or a lender who has accepted TARP money from the federal government.

For more information on Bellingham Real Estate or to search for homes in the Bellingham and Whatcom County area visit www.JohnsonTeamRealEstate.com, your one stop Bellingham real estate and community information resource!