Riverview Community Bank

Making Home Affordable

If your mortgage payment is made to another financial institution, such as Countrywide, Wells Fargo or National City, you will need to contact those companies directly. Please check their website for details and contact information.

Homeowner Affordability & Stability Plan
The U.S. Treasury Department recently announced details of the Making Home Affordable program, which allows eligible borrowers to refinance or modify their mortgage loans, resulting in more affordable payments.

The Making Home Affordable initiative allows eligible borrowers to refinance or modify their existing first mortgage. Detailed information about the program is available at FinancialStability.gov as well as at MakingHomeAffordable.gov. You can determine if you may be eligible by answering the following:

Refinance
You may be eligible for a Making Home Affordable refinance through Riverview Community Bank if ALL of the following are true:

• You make your monthly mortgage payment to Riverview Community Bank
• You have a Freddie Mac loan.  Not sure?  Check here:
  • 1-800-FREDDIE
  • Freddie Mac website
• You have not been 30 or more days late on your mortgage payment in the past 12 months.
• You believe the amount you owe on your first mortgage is about the same or less than the current value of your home.

If you answered "yes" to all of the above, you could be eligible for a refinance. If you answered "no" to any of these questions, you may be eligible for a loan modification.

You can apply for the Make Home Affordable Refinance Program online.

When applying online and choosing an option from the drop down menu listing broker names, Make Home Affordable Program must be chosen to qualify. Failure to choose the Make Home Affordable Program may disqualify your eligibilty from the program.

If you have questions about the make Home Affordable Refinance Program and your eligibilty, please contact our loan specialist at 360-514-5040 or email.

Loan Modification
You may be eligible for a Making Home Affordable modification if ALL of the following are true:

• You have a Freddie Mac or Fannie Mae loan.  Not sure?  Check here:
  • Freddie Mac
    • 1-800-FREDDIE
    • Freddie Mac website 
  • Fannie Mae
    • 1-800-7FANNIE
    • Fannie Mae website 
• You occupy the home as your primary residence.
• The amount you owe on your first mortgage is less than or equal to $729,750.
• You are already delinquent in your payments or you are having difficulty paying your mortgage, perhaps due to a significant increase in your monthly payment, a reduction in income, or hardship that has increased your expenses.
• You obtained your current mortgage before January 1, 2009.

If you do not qualify for a loan modification under the program, we may have other options to help lower your monthly payments.

To speak with a loan specialist and determine your eligibility and to discuss your options under the Making Home Affordable Program, please call 360-514-5040 or email.