In order to qualify for the federal Making Home Affordable refinancing program, you must have a Fannie Mae or Freddie Mac mortgage. But, how can you tell if you meet this requirement?

The easiest way to find out is to pick up a phone and call your lender. They should be able to look up your records and give you the necessary information. Some major lenders, such as Wells Fargo, give out this info via an automated hot line.

If that doesn’t work, you can contact Fannie Mae or Freddie Mac directly using the info found on the government’s Financial Stability website.

In some cases, your mortgage ownership information will show up on your credit report or on files at the the County Recorder’s office. But, it’s important to note that this data can be out-dated or unreliable.

For the few who who meet the requirements, the federal creative financing program can be a smart way to get a low interest rate.

photo credit: borrowed time | demi-brooke

See Also:

Creative Re-Financing: Obama’s New Foreclosure Plan

FHA Mortgage Basics

Tags | fannie mae, Freddie Mac, Making Home Affordable, Refinancing, stimulus plan, Wells Fargo