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Yesterday I received an interesting call from Jennifer Miller of CBS 4 in Denver. She was putting together a story for the 10 o'clock news and wanted to come to my office to interview me.  The station was interested in the "Making Home Affordable" initiative that originated in February but became available yesterday. 

The plan is aimed at individuals who are and also those who are NOT late on their mortgage payments.  Mortgage servicers who choose to participate will be able to reduce your interest rate to a floor of 2% and also extend the term of your loan for 40 yrs to bring the payment down to a 3rd of your gross monthly income.

The second facet to the plan is it will also allow homeowners who owe more than their home is worth to refinance and obtain a market rate.

CBS 4 did a very good story on this program and if you would like to know more of the details I would suggest you visit their site as well.

Click here to read the story

Click here to watch the news cast

Michael Shotnik

Summit Home Mortgage

303-800-4595