It appears that Fannie Mae and Freddie Mac have decided to expand the type of properties available for the refinancing through the Homeowner Affordability and Stability Plan. This is great news for borrowers, especially current owners of second homes and multiple family (one to four units) dwellings. Originally, we heard that this program would only apply to owner-occupied primary residences.
The following article goes into more detail of the new rules of the program recently released by Fannie Mae and Freddie Mac to all participating lenders. Read moreSee below for related posts:
Homeowner Affordability and Stability Plan - Part II
Homeowner Affordability and Stability Plan
Should you refinance your current mortgage now? Read more
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