Oc Housing Connection

This week our hosts, Hamid and Fay Hamadanchy, discuss two powerful but perhaps not well understood Federal programs put in place after the "great recession" to help people either modify or refinance their home loans, even those "under water".  As with all programs, there are some qualifications...the main one being that Fannie Mae or Freddie Mac have to own your loan as of May 31, 2009. Loans not owned by them or loans acquired after that time do not qualify for the program. But it's simple to find out.  Just go to www.FannieMae.com, click on the Homeowners and Communities tab at the top and "see if Fanniie Mae owns your loan".  If it does, listen here to all the benefits of a Home Affordable Refinance Program (HARP) and how to apply.  Same for Freddie Mac.  Or check out the other Home Affordable Modification Program (HAMP).  You'll be surprised at all they offer. As heard here on Orange County' s only community radio station, www.OCTalkRadio.net.