Fannie Mae and Freddie Mac have new mortgage modification options which will help millions of homeowners avoid foreclosure, and save a lot of money every month. This new program is part of the “Making Home Affordable” plan, a $75 billion effort from the Government to bailout homeowners who are at risk of losing their home. With this plan, all homeowners with a mortgage from Freddie Mac or Fannie Mae are eligible to get approved for a home loan modification.

This is a move that is spurred by the fact that nearly 8 million homeowners are at risk of losing their home. Many homeowners face the reality that if something doesnt change quick, they will lose their home. Whether it is due to a bad mortgage, high interest rates, bad personal financial problems, or other financial hardships, help is now available for millions of homeowners with Fannie Mae or Freddie Mac.

According to the “Making Home Affordable” plan, all homeowners with a mortgage from Fannie or Freddie can get help. New mortgage modification options are available to nearly all homeowners which will make the monthly mortgage payments less than 31% of a homeowners gross monthly income. This will happen through reducing interest rates to as low as 2%, or changing the terms, conditions or length of the home loan.

Getting mortgage modification help is easy, especially for desperate homeowners. Never before has such a widespread plan been enacted which will help so many homeowners get a better, more affordable, monthly home loan payment. Take advantage of this amazing chance and get the help you need now and modify your home loan.

-M Petrone
http://www.RefinancingCondo.com

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