fha no down payment program

Fha no down payment program

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Following the mortgage meltdown, Fannie Mae began to focus on loan modifications. The refinancings changed the conditions of existing mortgages to help homeowners in financial trouble to avoid defaulting.

Modifications can this web page reducing the loan interest rate or extending the term of the loan in order fha no down payment program lower the monthly payments. Fannie Mae and Freddie Mac are quite similar, but Fannie Mae tends to buy mortgages from the big banks and lenders, while Freddie Mac buys them from credit unions and small fha no down payment program banks.