KC Condo Tracker

If you're feeling the squeeze because of the economy, the first thing to address is your mortgage payment. The Obama Administration passed the Making Home Affordable Program this year. The program is designed to help homeowners that are current with their mortgages take advantages of today's lower mortgage rates.

One of my clients, David Doyle, got a call from Wells Fargo this week offering to take his current 15 year note at 5.65% down to 4.25% (reducing his monthly payment by $150 a month). He called me saying it sounded to good to be true, but it's not. For a $1000 REFI fee, he'll save $1800 a year on his mortgage.

To qualify, you must be current on your mortage and your mortage must be a Fannie Mae or Freddie Mac owned loan. To find out, click here.