The Freddie Mac Enhanced Relief Refinance — or FMERR — is for borrowers who want to refinance but have very little or no equity in their homes.
In reality, it's for homeowners who have done all the right things but have not benefited from rising home values.
Under the Freddie Mac Enhanced Relief Refinance, you can refinance your home loan at current interest rates if you have little to no equity. So if you don't qualify for a standard mortgage refinance programs, lower rates are still an option for you.
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