Mortgage Relief Plan Eligibility

February 18, 2009 12:08 PM

How do I know if my mortgage is owned or guaranteed by Fannie Mae or Freddie Mac? The recently announced mortgage relief plan will help homeowners living on properties where the market value has dropped below the principal owed. Is there a possibility that I will be elegible to receive help when my current loan is with GMAC Mortgage?
posted by alasdefuego to Law & Government (3 answers total)

I recently asked this question. The Fannie Mae designation on our mortgage (also through GMAC) shows up on our credit reports.
posted by Sweetie Darling at 12:45 PM on February 18, 2009

You can call your mortgage servicer and they should be able to tell you whether your mortgage was sold to, or is insured by, FNM/FRE.

It's really too early to tell what kind of relief you may be eligible for; the details are very sketchy as the plan was just announced today. There is some info here but you're going to have to give it a couple weeks.
posted by jckll at 12:45 PM on February 18, 2009

Response by poster: I called my mortgage servicer and was told my loan is owned by a private investor. I guess I won't be in the millions that will be able to refinance.
posted by alasdefuego at 6:30 AM on February 20, 2009