State Sen. Chris Lauzen, a candidate for Kane County Board chairman, announced a Kane County portal for the federal Home Affordability Refinance Program 2.0 at the website www.LauzenKaneCountyMortgageRelief.com or the new www.Lauzen.com, which will be active on Wednesday.
Homeowners who have kept current on their mortgage payment, but who have seen their property values dramatically decrease, thereby disqualifying them for refinancing at lower interest rates, are encouraged to visit the website. When they enter their address and press either the Fannie Mae or Freddie Mac buttons, visitors will see whether their mortgage is guaranteed by one of the federal agencies that underwrites hundreds of billions of mortgage loans. The benefit of this program is significantly reduced interest rates on mortgages, no matter what your loan amount is to the value of your home.
Mortgaged-stress homeowners can immediately apply for this program which takes effect in March.