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Freddie Mac Loan

A Freddie Mac loan is one of the best mortgage term that you can obtain to finance a home in any part of the United States. Unlike other home loans, Freddie Mac loans are widely popular for its low interest rates and flexible repayment terms. Loans offered by the corporation are termed as government loans and they have special features that are profitable for you. However, Freddie Mac has certain requirements for different types of loan options and you are required to fulfill them in order to get your preferred loan term.

Freddie Mac and Its Several Loan Programs

Recently, Freddie Mac had introduced a new project specially designed to guide over 5,000 homeowners with their high-risk mortgage by offering loan modification opportunities. Moreover, Freddie Mac in collaboration with Fannie Mae, has modified more than 37,000 mortgage loans during the first quarter of the year 2009. It is estimated that an increase of 57% from the fourth quarter of 2008 and over double the number of modified loan in first quarter of last year occurred in this year. This reliable data were released from the Federal Housing Finance Agency as a part of the Foreclosure Prevention Report of 2009.

Benefits of Freddie Mac Loan Modification

On the other hand, if your home loan is owned by Freddie Mac and if you are facing difficulties in making the repayments then you may be eligible to apply for the Home Affordable Refinance program from the corporation. By obtaining this refinance program, you will be able to take the advantage of lower interest rates and get some extra cash to meet some emergency expenses. However, there are certain loan requirements and application process that you are required to fully understand. For instance, only those homeowners whose loans are owned by Freddie Mac are eligible for this refinance term.

All about Freddie Mac Loan Limits

Each year, the two largest mortgage corporation, Fannie Mae and Freddie Mac create new guidelines on loan limits for single-family and multi-family homes. In 2005, the mortgage limit on conforming loan for single-family was $359,650. Loan limits for multiple family dwelling was much higher with an additional $100,000 per family. Freddie Mac loan limits are also applied to second mortgage and non-conforming loan terms owned by the corporation.

 
MakingHomeAffordable.gov
At MakingHomeAffordable.gov, you will be able to look up for the best of mortgage loans to finance your home or to avoid foreclosure of your existing home. All the loan terms are either financed by Fannie Mae or Freddie Mac.

WebSite:http://makinghomeaffordable.gov/loan_lookup.html
 
Freddie Mac
Visit the official website of the mortgage corporation to get reliable details on the new single family loan prospectus issued by them. Also check the underwriting requirement of Freddie Mac.

WebSite:http://www.loanprospector.com/
 
Pro Publica
Pro Publica is a leading online mortgage information provider serving all the states of the US. The company provide valuable details on the services of the loan contractors of Freddie Mac

WebSite:http://www.propublica.org/article/freddie-mac-loan-contractor-has-spotty-record-325



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