Real Estate and Home Mortgages - Guaranteed by?

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Walt333
07-01-09, 06:16 PM
I'm hearing about this new Pres. Obama thing for people who are 125% upside down on their mortgages for loans that are from or guaranteed by Fanny Mae or Freddy Mac. I know neither is my lender, but how can I tell if my loan is guranteed by either one?

Melissa_E
07-02-09, 07:51 PM
When you signed your original mortgage, it likely would have said that there was a guarantor. If you didn't put down a full 20% then you are probably guaranteed under FHA (which is a government program). So I would check your mortgage paperwork, it will be on there.
djcheez
07-07-09, 08:51 PM
your original paperwork should show this. IF in doubt call your current lender and tehy can tell you