President Obama Loan Modification Programs

Loan modification programs announced by President Obama are encouraged for all banks to participate; however, not all banks utilize or are mandated to offer the programs.  Any bank that has received TARP funds or money from the government, will be highly encouraged to offer such programs.  Most websites for banks will include this information on them. 

Go to Fannie Mae or Freddie Mac’s website and type in your address and information and see if they own your mortgage.  If they do, there is an excellent chance you can take advantage of one of these programs.  If your home is not, then you will want to call the bank on your mortgage statement and ask if you qualify.