If you’ve got a loan securitized by Fannie Mae or Freddie Mac before May of 2009, an FHA or VA, or some USDA programs the answer could be yes. Since the Obama administration took over in early 2009 the Obama’s Mortgage Assistance Plan or Obama MHA Plan has attempted to save the homes of millions affected by the economic downturn, unemployment and falling home values. There are even specialized programs to help people exit their homes when they are no longer able to afford them. The best place to explore those programs and the eligibility requirements for each of tem is on the government website called MakingHomeAffordable.gov. That website contains information that is updated as programs are tweaked to provide better service. Frankly, until the current year 2012, many of the programs have been under utilized.

With changes made in the early part of the year, more refinances under a program called HARP, have taken place in the first five months of this year than in all of 2011. Some of the complexity of the program has been streamlined out, some fees reduced or removed and upper LTV limitations are gone. In addition, additional funds have been set aside to assist active duty military members whose deployments and or 2-3 year assignments have left many active military members in a difficult position because the housing market has been a difficult and unresponsive place in which to sell their home when they have been reassigned.

The best place to begin if one of the programs seems right for you is with your current lender who can provide you necessary information about eligibility and help getting through the process. If you are not satisfied with the current servicer of your mortgage, we have the mortgage expert’s right here at the LoanexFastCash.com to assist you in determining what your best options are. Begin with Making HomeAffordable.gov and determine what program works best for you in your situation and then get started. Need help, the LoanexFastCash is ready to help and waiting for you to contact us. Fill out our simple online application today!