Does Fannie Mae Own My Mortgage?
By Kevin Tinsley, Washington State Tacoma Seattle VA Home Loans
(VAHomeLoans.com)
Does Fannie Mae own my mortgage? Why would you even care who owns your mortgage? Well if you have been considering refinancing your home loan, but real estate values in your area have declined, you may want to know who owns your mortgage...Knowledge is Power... Fannie Mae's program DU Refi Plus allows homeowners to refinance even though the value of their home may have dropped. One of the biggest benefits of the program is, if you were not required to carry mortgage insurance in the past, chances are you will not have to carry it when you refinance. This alone could save $50-300 per month. Or if you did have mortgage insurance on your previous loan, you can continue paying at the same rate - which is usually less than what's available today. For more information about the DU Refi P...
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