Home Affordable mortgage?

[Steve Smithy]

Has anyone done a refinance with the Home Affordable program by Fannie/Freddie?
http://www.makinghomeaffordable.gov

I was going to refinance my home, and found out about this program. I thought it was only for people with low credit scores or something, but apparently I might qualify! Basically if you have a 2nd mortgage (so that you don't have to have PMI) and you refinance, they exempt you from PMI! In my case its $300+/mo savings! My only concern is how this might affect me later for a mortgage for a investment property or vacation home or something.