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On June 26 the Relief Refinance Mortgage – Open Access, which permits Relief Refinance Mortgages to be originated by Freddie Mac Seller/Servicers who do not currently service the mortgage being refinanced was announced.
Under the Relief Refinance Mortgage offering the federal Making Home Affordable Program is supposed to provide borrowers with more choices when refinancing.
Relief Refinance Mortgages – Open Access must have note dates on or after October 1, 2009, and on or before June 10, 2010. Additionally, these mortgages must have Freddie Mac settlement dates on or after October 1, 2009.
To be eligible for the Relief Refinance Mortgage – Open Access, the mortgage being refinanced must be owned or securitized by Freddie Mac and the Relief Refinance Mortgage must improve the borrowers position substantially.
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For Sale: $379,900
For Sale: $329,923
For Sale: $349,900