Freddie Mac?s Relief Refinance Mortgage - Investment Condo ...

Realtors are not a good source of information when it comes to financing.?? If your condo is Freddie Mac owned, refinance is available up to 125% of the current market value, assuming you qualify.

There are two versions of the program, Relief Refinance and Open Access.? The Relief Refinance requires you work with the current servicer (If they offer and originate the program), it also requires the current occupancy be the same as the original occupancy.

Open Access you can work with any participating lender, and the initial occupancy is not a factor.?? It can be a tough program to find especially for an Investment Property.??? A local mortgage broker would be a good source to work with as they should have some options available for you.

Source: http://www.zillow.com/advice-thread/Freddie-Mac-s-Relief-Refinance-Mortgage-Investment-Condo/415963/

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