Surprise! It's a Bailout for Vacation Homes, Too

March 6, 2009 — I'm shocked that people aren't jumping all over the revelation that the no-equity mortgage refinance program unveiled yesterday is going to be available for vacation homes and one-to-four unit rental properties as well as for owner-occupied homes. The Post's Renae Merle reported this detail, which she found in the program rules published by Fannie Mae and Freddie Mac.

The refinances are available to borrowers who bought their properties using Fannie or Freddie loans and who are not behind on their payments, but who don't have enough equity to qualify for an ordinary refinance. It's half of a two-part homeowner bailout program. The other half encourages loan modifications that can reduce interest rates and payments for borrowers already in default or near foreclosure. That loan-modification plan is restricted to a borrower's primary residence.
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Maine Vacation Homes

New Hampshire & Maine Real Estate

Prudential Joy Tarbell Realty
Luxury homes, lakefront, vacation getaways, and ski condos in the Mount Washington Valley area of New Hampshire's scenic White Mountains and the foothills of Western Maine. Comprehensive MLS database.

New Hampshire & Maine Vacation Homes

Elizabeth A. Roy, ABR, CRS, GRI
Lakefront and mountain view homes, Condos, land and properties in the White Mountains' Mount Washington Valley including Conway Lake, Silver Lake, Ossipee Lake. Vacation homes and resort condos at Nordic Village, Eagle Ridge, Village at Kearsarge.

Luxury Homes & Vacation Homes in New Hampshire

Suzie Laskin, CRS, GRI, CBR, SRES
Specializing in luxury vacation homes and vacation related commercial properties in North Conway, New Hampshire, and the Fryeburg and Bridgton areas of Western Maine. Find the perfect mountain home, resort condo, bed and breakfast, country inn or lakefront home to suit your needs.