FORT MYERS, Fla.- It looks like the housing market won't be getting better anytime soon. A financial analytics company says home values are expected to fall another three-point-six percent by next June. The President has a new plan to help underwater homeowners refinance their mortgages. Here today for what this means for you is WINK's Real Estate expert Denny Grimes from Denny Grimes & Co. at Royal Shell Real Estate.
The program’s requirements are as follows: It only pertains to loans serviced by Fannie Mae or Freddie Mac
The loan must have been originated prior to May 31, 2009
Go to www.fanniemae.com
Your last 6 payments must have been on time
Your first mortgage must not exceed 125% of the current market value of the home.