December 11th, 2009 12:24 PM by Dana Bain
Who Owns My Mortgage?
by Dana Bain
Find out if Fannie or Freddie owns your mortgage.
Feds new refinancing program may be the answer for people with less than 20 %equity.
Finding out if federally owned mortgage giant Fannie Mae or her brother, Freddie Mac, owns your mortgage has become important, because only their loans are eligible for the feds' new refinancing program for people have less than 20 percent equity.
Now, it's easy.
Most people don't know who owns their mortgage, because the company that originates your loan often continues to collect the monthly payments and send out statements after selling it to Fannie, Freddie or other investors.
Fannie Mae Loan Lookup
Freddie Mac Lookup
The refinance plan, part of the new Making Home Affordable program, serves people whose Fannie or Freddie loans are for 80 to 105 percent of their homes' value.
At first, officials said the only way to find out if Fannie or Freddie owned their mortgage was to call their loan servicer. Now, Fannie and Freddie have look-up pages.
Once you hopefully find out if in fact either Fannie or Freddie Mac owns your mortgage call 800-480-0545 or 978-422-2311 to make application and take advantage of refinancing at some of the lowest mortgage rates in history before its to late.
Premiere Mortgage Services Inc.