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My cabin was purchased in June 2007..It was valued at 330. Zillow shows as 317 now..My loan servicer

Freddie Mac owns the loan.. My servicer keeps telling me they are STILL waiting guidance to move forward.. According to the Gov. sites I qualify for help to refi....What's taking so long. I want to take advantage of these great rates.
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March 24 2009 - Julian
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Answers (3)

SA,

Your referance as "my cabin" to me implies a 2nd home. 2nd homes and investment properties do not have any "special" opportunities. It's business as "usual." Take advantage of what you qualify for. It's surely better than what it was in the past. .... Best wishes, Ruid
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March 24 2009
There are still no programs and procedures in place yet. First Fannie and Freddie have to come up with their own guidelines, then each lender has to be given those guidelines and create procedures to begin taking this new product. This may include hiring new staff and creating whole departments. These things take time if you want to do it right and avoid litigation in the future. There is a lot that needs to take place so just have patience. The rates will be here for a while yet. Who knows, they will improve and then you'll say, "good thing I waited."
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March 24 2009
If you are referring to the HASP program its not going to be available until the first week of April.
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March 24 2009
 
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My cabin was purchased in June 2007..It was valued at 330. Zillow shows as 317 now..My loan servicer
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Latest answer by Rudi Hofmann
March 24 2009 | 3 answers
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