DU Refi Plus Program by the Fannie Mae – here is another mortgage refinance

It is nice to see several refinance programs introduced so as to help the home owners avoid the home foreclosures.You might have heard that it is now possible to get the refinance from the lenders easily because the mortgage stimulus plan.This is the right time for people who have undergone serious problems because of bad credit mortgages to get a refinance and reduce the monthly mortgage payments.Before you apply for the mortgage refinance,make sure that you are reading all the guidelines given by the lender.


These are the requirements to get qualified for the refinance through the DY Refi plus program:

1.your existing mortgage must not be a interest only mortgage – these will not be accepted for approval at all,

2.Loans must be guaranteed by the Fannie Mae,

3.Apart from the interest only mortgages,the balloon mortgages are also not eligible for approval.

4.Moreover the adjustable rate mortgages whose fixed term was five years are also not eligible for approval.

Getting the refinance is easy because of the housing crisis:

Understand that the lenders are now becoming a bit lenient because of the mortgage stimulus plan – thus if you had obtained a high interest rate mortgage,this is the right time for you to convert the high mortgage rate to a very low mortgage rate.Do not lose this opportunity to refinance your mortgage loan.