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Not a Freddie or Fannie Mortgage - Is there any help available?

My mortgage is with Chase, originally with WaMu.  It is an interest only variable due to reset next March.  I have no trouble right now paying the mortage, but would like to take advantage of the low interest rates.  They tell my my loan is not a Freddie Mac or Fanny Mae mortgage so no help from Making Home Affordable Program.  I owe as much as the house is worth.  Any suggestions would be appreciated.
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October 04 2010 - Fairfield
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Answers (8)

Straight answer provided here, if you'd like to call and ask for Michael (203) 227-2422, and with no obligation!
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October 13 2010
http://www.makinghomeaffordable.com/counselor.html

Visit this website to see a list of approved free counselors. If they are on this list they are legitmate and arent just trying to take advantage of you.
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October 08 2010
Yes you can still get a loan modification through your lender as long as you qualify. You should request an in house modification which is sometimes just as good as a HAMP loan modification. You can check out our parent company at www.USHomeSupport.com for more information.
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October 06 2010
You may want to check into this.
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October 05 2010
Was this an FHA, RD, or VA loan originally.  Otherwise I would think WaMu would have had it securitized by Fannie or Freddie. 

Did you go to the websites and make sure it was not backed by either of them?

I would be happy to walk you through if you need help figuring it all out.
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October 05 2010

If you have the money, you can pay down 3.5% of the value of the home and get an FHA loan (in order to take advantage of the current low fixed interest rates).  Just another option for you to consider.

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October 04 2010
Profile picture for MoniqueU
go to hopenow.com.

register the loan with them, which registers the loan with the government.
chase is probably servicing the loan for an individual investor. they still have to modify the loan, unless you have a 401-k. then you are on your own.
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October 04 2010
Because you don't qualify for the HARP program, you would need to call Chase and ask to see the terms of your loan.  Then decide if you want to ask them to change the type of product.  In the meantime, your rate will change.  Luckily, it will probably go down for a period of time.  Most likely for about 6 months.  Do you want to stay in your home? 
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October 04 2010
 
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