Freddie Mac Open Access Relief Refinance - Eligibility
To be eligible to participate in the Freddie Mac Open Access Relief Refinance program:
- The first mortgage on the property you wish to refinance must currently be owned by the Federal Home Loan Mortgage Corporation (Freddie Mac). Your mortgage may be owned by Freddie Mac even if you are making your payment to another entity (e.g., Bank of America, Chase, CENLAR, or any other bank or mortgage lender). This is because Freddie Mac is neither a bank nor a mortgage lender. It is a government-owned corporation that purchases closed loans from banks and mortgage lenders. Freddie Mac does not service the loans it owns, which means that some other entity collects the mortgage payments, issues statements, handles customer service calls, etc. That entity is often the bank or mortgage lender who made your loan in the first place. Follow this link to find out if your loan is owned by Freddie Mac: Freddie Mac Look-Up Tool
- The date of the Mortgage Note (your original contract) must be prior to June 1st, 2009. In other words, any date up to and including May 31st, 2009 is eligible for the Freddie Mac Open Access Relief Refinance program.