Relief Refinance Mortgages – Program Highlights

50 bps reduced term incentive for fixed-rate Relief Refinance Mortgages with LTV ratios > 105% & <125% when the term of the original mortgage being

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Relief Refinance Mortgages Program Highlights
With the federal Making Home Affordable Program extended through June 2011, interest rates still near historic lows, and the Freddie Mac Relief Refinance MortgageSM providing both the Same Servicer and Open Access options, this is a good time to help borrowers refinance into mortgages that better position them for a successful long-term homeownership experience. The following information outlines key highlights and benefits of Freddie Mac\’s Relief Refinance Mortgage.
Relief Refinance Mortgage Program Highlights
Same Servicer Seller Benefits
Retain borrowers through the Same Servicer option
Open Access
Reach new borrowers through the Open Access option
Borrower Benefits
Eligibility Requirements
Relief Refinance Mortgage Program Highlights
Same Servicer
Mortgages being refinanced that were sold to Freddie Mac with recourse or indemnification must be delivered with recourse or indemnification Existing mortgages originated as an investment or second home and are now owner occupied may be eligible to be refinanced as a primary residence mortgage Borrower allowed to have more than four financed properties LTV ratio up to 125% for fixed-rated mortgages LTV ratio up to 105% for ARMs No maximum TLTV or HTLTV ratio No requalification

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One Response to “Relief Refinance Mortgages – Program Highlights”

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