As shown in a recent article, certain mortgage debt held by Fannie Mae or Freddie Mac will not receive the benefit of principal reductions in getting relief to make their mortgages more affordable. This does not apply to everyone – just those whose mortgages are held by Fannie Mae and Freddie Mac. Also, this does not prevent people from being creative in trying to make mortgages more affordable for people in trouble, but it certainly doesn’t help.
Knowledge is power. Contact us for information if you need help or if you think that you might need help.