Just last week, as everyone's focus was getting more and more on the Atlantic Coast hurricane, Irene, it started to look as if there might be some help coming for homeowners from the nation's capital. Now that it's Good Night, Irene we can get to serious stuff. Indications are (and that's all they are for now) that the Federal government is seriously considering some form of refinancing assistance for owners whose existing loans are guaranteed by either Fannie Mae or Freddie Mac. Info leaking out points to the possibility of this being done at today's low interest rates, even if the home is 'under water' or the owner is delinquent on payments. Some experts estimate that, subject to whatever form the actual program finally takes, monthly mortgage payments could be reduced by as much $350 each month. Keep your attention here; as soon as we hear anything, we'll pass it along.
As always, Good Luck.
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