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New Freddie Mac Loan Modification Program

Freddie Mac recently announced that they are making a new streamline loan modification program for delinquent borrowers available now.

This program is for borrowers that are 90 days late on their loan and the loan must be at least a year old. Also, the borrower can’t be more than 720 days late. It will waive any document requirements for borrowers to receive the loan modification and it becomes permanent once you make your first 3 payments on-time.

If you need help, please contact your mortgage service provider directly.

Have a wonderful week.

Mahalo Nui Loa,

Melissa for The Smith Team

P.S. – Several weeks ago I mentioned that I was trying to do a loan modification with Bank of America to do an interest rate reduction. They have a special interest rate reduction program as part of the Department of Justice and State Attorneys General National Mortgage Settlement with major mortgage servicers, including Bank of America. I always paid my loan on-time and I recently got approved for a no-cost loan modification program to bring my interest rate down from 6.875% to 4.25%.

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About The Smith Team

Ken Smith, a Maui resident for 35 years, brings his extensive local knowledge and passion for the island to his successful real estate career. Alongside his daughter-in-law, Melissa Smith, and Greg Smith, the Smith Team provides a wealth of experience and dedication to clients seeking to buy or sell property in Maui.

Melissa Smith, a third-generation Maui native, combines her deep understanding of the island's growth with a commitment to exceptional service. She empowers clients with knowledge to make informed decisions in finding their dream homes. With a background as a top agent and a Broker's license, Melissa's expertise is invaluable.

Gregory P. Smith, a lifelong Maui surfer, channels his passion for the island and its natural beauty into his real estate profession. His enthusiasm, deep market knowledge, and dedication to exceeding client expectations make him an exceptional agent.

The Smith Team's combined local expertise, commitment to client service, and understanding of the unique Maui real estate market make them an ideal choice for those looking to navigate the island's property landscape. Their proven track record ensures a smooth and successful experience for both buyers and sellers.