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Ender, Other/Just Looking in 33309

MY loan is owned by Ginnie Mae, is there any program for this kind of mortgage?

Asked by Ender, 33309 Fri Mar 26, 2010

MY loan is owned by Ginnie Mae, is there any program for this kind of mortgage? to reduce my interest rate or reduce my mortgage payment?

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My understanding was that the HOPE for homeowner's program supposedly would help, so inquiring with your loan servicer would be the way to go. Who are you making your payments to?
0 votes Thank Flag Link Fri Mar 26, 2010
Government National Mortgage Association (also known as GNMA or Ginnie Mae) is a wholly-owned US corporation that guarantees privately issued securities backed by pools of mortgages insured by FHA (Federal Housing Administration), FMHA (Farmers Home Administration of the USDA) or VA (Veterans Administration).

So, the type of refinance program available will depend on which agency is insuring your loan. For FHA loans, your can refinance under the FHA Streamline Refinance Program. USDA has a refinance program for their USDA Rural Development Loans. If you have a VA loan, you can use the Interest Rate Reduction Refinancing Loan (IRRRL) program.
0 votes Thank Flag Link Fri Mar 26, 2010
Ginnie Mae is the primary investor for FHA loans.....If you have an FHA loan, yes there are programs for refinanincg and rate reduction...I would be happy to discuss your options with you....770-301-0527
0 votes Thank Flag Link Fri Mar 26, 2010
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