The President’s Homeowner Affordability and Stability Plan
has two components:
- The Loan Modification
- The Refinance
If you currently have a CalHFA loan, please see the information
below.
LOAN MODIFICATION
Due to obligations to our bondholders and investors, CalHFA cannot
effectively participate in the President’s Homeowner Affordability
and Stability Plan. CalHFA borrowers, however, may
be eligible for CalHFA’s Loan
Modification Program; for more details, please see
our Loan Modification Program
page.
REFINANCE
CalHFA loans do not qualify for the refinance portion of the President's
Stability Plan because those loans must be held by
Fannie Mae or Freddie Mac.
CalHFA
is an investor, not a lender and cannot make loans directly to borrowers. To
refinance, please contact a lender in your area.
Fannie Mae Launches a New Loan Lookup Tool
for Borrowers
As more borrowers become familiar
with the Making Home Affordable program, there has been
an increase in borrower inquiries regarding the identity
of their mortgage investor. To help borrowers answer
this question, Fannie Mae has launched the online Fannie
Mae Loan Lookup.
This new tool replaces their existing inquiry feature
and provides an immediate answer indicating whether
or not Fannie Mae is the investor on the loan at
a specific address. Borrowers only need to enter their
address information to get a result.
Freddie Mac offers a similar tool. Borrowers can visit
Freddie
Mac's Web site, http://freddiemac.com,
to use the new lookup tools.
For further information on the President's Stability Plan, please
see these FAQs or visit www.financialstability.gov.
Should you have any additional questions, please contact CalHFA
Loan Servicing.
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