Fannie Mae to Offer New Mortgage

RightSide Advisors (05/12/08); Suttmeier, Richard
Fannie Mae reportedly will unveil a new product allows homeowners whose mortgages have been packaged by the government-sponsored enterprise to refinance at a lower rate even if they owe more than the property is worth. However, homeowners cannot be late on their current loan payments, and current mortgage rates must be low enough to justify the refinancing.