Prepare now for the Home Affordable Refinance program and Loan Modification program which starts in April. Educate yourself on your options to make sure you are able to take advantage of this opportunity. Beware of scams such as postings on Craigslist. Many of those ads DO NOT guarantee an outcome but do require a monetary deposit or application fee upfront.

The first step is to make sure you know exactly who guarantees your mortgage. If you are unsure, the video provides a step by step process to make sure you know if Fannie Mae or Freddie Mac guarantees your mortgage. Then decide if you are eligible for either the refinance program or the home loan modification program. If your loan is not guaranteed by either Fannie or Freddie, contact your bank directly.

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