Making Homes Affordable
April 20th, 2009 | 
Author: By Lynnette Khalfani-Cox, The Money Coach
The Federal government is giving lenders incentives to help at-risk borrowers get their payments down to 31% of their monthly income through either a refinance option that expires June 6, 2010 or through a loan modification option that expires December 31, 2012.
You may qualify for one of two of these “Making Home Affordable” programs that the Obama Administration launched in March 2009. One program is for homeowners in good standing who would like to refinance to a lower interest rate mortgage but can’t get one through traditional means, and the other is for those homeowners who are in financial trouble who would like to modify the terms of their loan in order to make payments more affordable.
Option #1: Refinancing for Homeowners in Good Standing
Lynnette Khalfani-Cox, The Money Coach is a personal finance expert, speaker, and author of numerous books on personal finance. She appears frequently as an expert commentator on television, radio and in print. 
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