Fort Lauderdale Blog: March 2009

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March 2009

March 10, 2009

Making Home Affordable Government Plan

For those that just need a little help or modification of their current mortgage to get by, there is a new plan instituted on March 4 called the 'Making Home Affordable Refinance & Modification Options'.

The Refinance options and Modification option is available to those that are at risk of falling behind in their payments or are up to 60 days past due. This program is available to Fannie Mae & Freddi Mac loans and lenders recieving funds from the Federal bailout.

To find out more and if you are eligible please visit the government's Financial Stability website.

Posted by Marina Sarabia and Kathleen Costanzo on March 10, 2009 at 02:07 PM in Economy, Real Estate | Permalink | Comments (0)

March 03, 2009

Bank lowering mortgage payments for some un-employed homeowners

Citigroup has announced it will lower mortgage payments for some homeowners who have lost their jobs. In some cases the reduction will be as low as $500 a month for three months.

This 'gesture' comes after the recent US Govt's granting of up to $25 billion in emergency bailout money to Citigroup for as much as a 36 percent equity stake in the company.