Why Don’t Banks Want Homeowners To Use This Free Government Program?

Many Americans agree that refinancing with through this program can save money, and not surprisingly banks are on edge about it.

It’s hard to believe the Freddie Mac Enhanced Relief Refinance® (FMERR)* actually exists when you hear that even Americans with a high loan-to-value ratio on their mortgage could get $1,736.00 cash back each year through this government program. How is this possible? If you had a $250,000 loan, at a rate of 4.563% and lowered it even by 1%.

It’s insane this program isn’t talked about more often. The reality is most people think the savings are too good too be true. Even worse, some think the program is only for homeowners with bad credit or foreclosures. This couldn’t be farther from the truth. FMERR was made for the average American and good credit helps you get offers with even better rates!

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If lowering your payments and shaving years off your mortgage would help you, it’s vital that you act now. We were surprised that you may even take some cash out of your home to help you with bills, renovations, your child’s education, a vacation, or to start saving for retirement

Quick Summary: Homeowners could still benefit today, but sadly, many perceive FMERR to be too good to be true. Remember, FMERR is a free government program and there’s absolutely NO COST to see if you are eligible. Instantly find refinance rates >>

How Does This Benefit You?

  • Homeowners could save $1,736.00 a year on their mortgage.
  • Homeowners can even take cash out for home improvements, pay off debt, pay for their children’s education, or retirement.

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Where Do I Start?

With many mortgage lenders and brokers available, it can take consumers hours to simply contact each one separately and request a quote. The good news is there are services that could help you save time and money by comparing multiple lenders at once. One such service is LendingTree, which has one of the biggest lender networks in the nation and what’s better is that they work with FMERR lenders to provide consumers with a comprehensive set of mortgage options.

There’s no obligation to homeowners, and LendingTree offers easy and fast comparisons you could even do on your cell phone. It takes about three minutes, and the service is 100% free.

Here’s How You Do It:

Step 1: Get started by clicking the map below.
Step 2: Once you go through a few questions, you will have the opportunity to compare the quotes from multiple lenders!

Free Payment Estimate

 

 

*Freddie Mac Enhanced Relief Refinance (Enhanced Relief):
The Freddie Mac Enhanced Relief Refinance℠ Mortgage provides opportunities to borrowers with existing Freddie Mac mortgages who are making timely payments but are unable to take advantage of the standard Freddie Mac “no cash-out” refinance offering because the new mortgage exceeds maximum loan-to-value (LTV) limits.
For more details and available eligibility restrictions see advertising disclosure.