I just wanted to post this info since it might be helpful to many. In our paper today there was an article about special mortgages for people with flawed credit. Many, myself included are paying duble digit interest on our house due to our past credit. Apparently there is a Fannie Mae program called TimelyPayment Rewards. In the Detroit area where I live it is offered by Rock Financial (they call it Easy Answer), Flagstar Bank, Quicken Loans, Homestead Mortgage, Countrywide Mortgage and National City bank, to name a few. Apparently this program, which you need to ask for by name, allows people who normally would be sub prime, to get a mortgage closer to prime under 10%. If you make your payments on time for 24 months, the interest rate will drop up to one point. The number listed for Fannie Mae to find out other lenders who might offer the program in your area is 1-800-732-6643, 9-5 weekdays or visit the website, www.homepath.com. I have not used this program but I am certainly going to look into it on Monday. Perhaps someone on this board is more familiar with it. It just seemed like it might be helpful to some of us while we get our reports cleaned up. Hockeymom
