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Have you tried to refinance through HARP?
In other words, you may have little choice but to refinance through the bank that now holds your mortgage.
The fee reductions will apply only to borrowers seeking to refinance through the agency's "streamline" program, which is typically less burdensome than a traditional refinancing.
Those looking to refinance through programs offered by Fannie Mae and Freddie Mac, the government buyers of home loans, will first need to find out who holds or services their mortgage so they can determine whether they qualify.
When borrowers seek to refinance through a new lender on loans where the borrower is merely 5percentt underwater, Fannie Mae and Freddie Mac will issue surcharges that can add four-tenths of a percentage point on the interest rate, or can be paid in the form of points.
As a result, the Obama administration is announcing a new program that will help as many as 4 to 5 million responsible homeowners who took out conforming loans owned or guaranteed by Fannie Mae or Freddie Mac to refinance through those two institutions.
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But they may qualify to refinance their loans through a variety of programs aimed at avoiding late or partial payments or foreclosure.
In August, the White House established a program to allow an additional 80,000 borrowers to refinance their loans through the Federal Housing Administration — on top of 160,000 who were already eligible.
Its most direct relief measure would allow an additional 80,000 at-risk homeowners to refinance their loans through the Federal Housing Administration, on top of 160,000 already eligible.
Proceeds from the deal will be about £300 million more than an alternative plan considered by the company to refinance Southern Water through the sale of bonds.
Stonebridge Partners remains committed to once-troubled defense contractor BondCote, opting to refinance the company through a $28.5 million recapitalization rather than sell it after more than a decade of ownership.
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