| Ginnie Mae
Hello all, I am told that my investor is ginnie mae, and have read previously that they are not participating in the making home affordable program or the "Obama Plan" I just read online that it seems they are changing their policy about this? When I got my trial mod papers there was no mention of a Obama Plan or anything of that nature. My "proposed" interest rate reduction was to be 4.875 which is a fantastic rate don't get me wrong, but still doesn't bring the amound monthly down to anything affordable, or close to the 31% guideline from the Obama Plan. Does anyone here have a Ginnie Mae backed loan and what are their experiences?
|