Homeowner Affordability and Stability Plan

What is the plan?

On March 4, 2009 the Obama Administration announced the details of the Homeowner Affordability and Stability Plan. With it the Making Home Affordable program was introduced -- designed to prevent foreclosures by giving eligible borrowers an option to refinance or modify their existing mortgage loan.

What is BB&T doing?

BB&T is committed to supporting the opportunities available under the Making Home Affordable program that may help you with the affordability of your mortgage payment. We ask for your patience in this process as we are experiencing an increased number of inquiries from our clients for information on the plan.

What can I do?

Use the resources below to learn more about the refinance and modification options available under the plan. To start with, you'll need to determine your potential eligibility for the Making Home Affordable program at BB&T. This site can help you determine your potential eligibility, however, other criteria will be analyzed to determine if you qualify.

To be considered for the Refinance option:

• Your loan must be a Fannie Mae or Freddie Mac eligible loan.
• You must not have been more than 30 days late on your mortgage payment in the last 12 months.
• The current value of your home must be about the same or more than the amount you owe on your first mortgage.

To be considered for the Modification option:

• Your loan must be an eligible loan.
• Your home must be your primary residence.
• The amount you owe on your first mortgage must be equal to or less than $729,750.
• Your mortgage loan must have opened before January 1, 2009.
• You are having trouble paying your mortgage due to a recent occurrence such as a:
  
  
  • Large increase in your mortgage payment.
  • Significant reduction in your income since you opened your current loan.
  • Hardship which was outside your control that has considerably increased your expenses (for example, extraordinary medical bills).

To find out whether you have a Fannie Mae or Freddie Mac loan serviced by BB&T, log on to BB&T OnLine^®.

Log on to your mortgage account now to learn more.

If your loan is not a Fannie Mae or Freddie Mac loan serviced by BB&T, please contact your current servicer to be considered under the Making Home Affordable program. Or, if you would like to be considered for a regular refinance loan with BB&T, please contact your local BB&T lender.

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Branch Banking and Trust Company is a Member FDIC and an Equal Housing Lender.

Loan approval subject to program underwriting requirements.

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