With economy floundering, the government announced the Home Affordable Refinance Program for homeowners that struggled because of declining property values that have prevented them from mortgage refinancing until now. Fannie Mae, Freddie Mac and the Department of Housing and Urban Development came together to make some improvements on the Home Affordable Refinance Program. This new plan, dubbed, HARP 2.0 is like the original refinance program, except now there are no "loan to value" limits whatsoever. We are a HARP lender that provides a streamlined path for borrowers eligible for the HARP refinance program. If you have an underwater mortgage that is owned by Fannie Mae or Freddie Mac then you may be a good candidate for the HARP 2.0. The interest rates are phenomenal but don't wait because the HARP mortgage program will expire soon. Don't let the window of opportunity to unload your bad mortgage pass.
A few years ago the Federal Housing Finance Agency (FHFA) broadcasted a series of changes to the previous Making Homes Affordable Refinance Program. These changes were made in the hopes of targeting even more homeowners that are currently underwater. The program changes were a collective effort between lenders, mortgage insurers, and industry participants under the FHFA's Direction. The HARP refinance goal is to offer more stability to Fannie Mae and Freddie Mac by offering refinancing opportunities to borrowers. This program like many others does have restrictions and will only benefit a select demographic. Fannie Mae and Freddie Mac thus far have assisted an estimated nine million families by offering a lower cost more maintainable mortgage product. The proposed changes are aimed to open doors for many more homeowners. If you were unable to obtain a traditional refinance because the value of your home has dropped you may be eligible for HARP 2.0 program. HARP refinancing is a new loan relief option that will involve a quick application followed by the underwriting process.
HARP is a more cost effective program for both the borrower and the lender. This program offers fewer restrictions and simplifies the process to encourage participation. In some cases, an appraisal is not even required. Only those borrowers with active employment will be considered. Homeowners' that have already participated in a HARP program are not eligible.
Industry participation in HARP is not mandatory; eligibility will vary between lenders, mortgage insurance companies, and other market participants. Borrowers' should make direct contact with their mortgage company regarding their participation in HARP mortgages.
-Your existing mortgage must have been sold to Fannie Mae or Freddie Mac before May 31, 2009 and remain in their possession. To determine if your loan is Fannie Mae or Freddie Mac, please visit:
Get the real scoop on the HARP mortgage and find out quickly if this "super refinance" is actually an option for you.
There is no fee to apply online and no obligation to work with our HARP lenders!
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