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Obama - Refiancing Plan

spiderman
in The Filibuster

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Long story short....I'm trying to refinance, currently with a FHA Loan, but I just got a notice in the mail that says my home doesn't have the value that it needs to do that, and these loans are less restrictive than conventional loans. I don't know what my home was appraised at, but it doesn't appear as if it's has the value it needed.

 

Anyways, it's my understanding that under the Obama Refinancing Plan, people whose current balances are close to their home value are able to get a new loan.

 

Am I accurate?

 

What's the quickest method to determine if I am eligible to try going down that route?

 

Please PM me if you "in the business" and don't mind helping me out a bit on this.

 

Thanks!

Try www.makinghomeaffordable.gov
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