The Home Affordable Refinance Program (HARP) loan lets countless home-owners in Hardee County to re-finance their under water homes where it was previously out of the question. If you are one of the several who qualify for the newest HARP refinance program, FiveStarsMortgage.com will help you to efficiently assist with your mortgage. Call 800-871-2636 or fill out this HARP Information Request to get going toward a lower interest rate immediately.
HARP Refinance Qualifications, Eligibility Prerequisites, and Changes
The Making Home Affordable Program, which was created and started in 2009, allows for a large number of home owners who were previously struggling to refinance their mortgage. Through all around declines in the economy and home value decline, homeowners were having difficulty spending more than they can afford on homes. One of the largest benefits of the program was the roll-out of the Home Affordable Refinance Program, or HARP. Utilizing this type of new loan refinancing process, eligible residents of Bowling Green with HARP Refinancing can usually get a more affordable payment on their mortgage loan and save thousands of dollars over the years.
The HARP program is for home owners with Freddie Mac or Fannie Mae backed mortgages having a loan-to-value (LTV) ratio of more than 80% on their mortgage loan. Because mortgages that have an LTV of more than 80% are often not able to qualify for common loan refinancing options, the HARP program was needed to allow as many people as possible to begin spending less on their monthly mortgage payments. As credit seekers needs have changed since the program was implemented, the HARP program has also undergone some modifications to enable much more flexibility for approval. At present, the HARP program being offered is known as HARP 2.0 and gives more flexible qualification requirements. This is the review of the history and development of the HARP refinance program:
HARP 1 (Original HARP Home refinance)
The HARP 2.0 mortgage refinance loan program gives substantial assistance for Bowling Green, FL home owners that could not refinance in the past on account of reducing home values. The newest version of the Home Affordable Refinance Program (HARP 2.0) has now been released. This new version of HARP allows unlimited loan to value, which is the most important adjustment. This suggests no more restrictions on how much money a home owner owes on their mortgage verses how much money their property is currently worth! Florida home-owners upside down or under water in their mortgage loan will get some relief. The best part is, there are also less restrictive credit regulations in place. Many of the other government backed refinance programs in the last several years have fallen short of honestly supporting home-owners to refinance their home mortgage to a lower rate of interest. The current edition of the HARP mortgage program (2.0) offers the relief many Bowling Green homeowners have needed for so long. No matter what who your existing loan servicing company is (Bank of America, Wells Fargo, Chase, Citi, etc) we can provide assistance so long as your home mortgage is presently Fannie Mae or Freddie Mac backed.
HARP 3 is still a hypothetical scenario and all of the information discussed is simply speculation. The specifics of the program are derived from what is increasingly being outlined but it is unknown what the eventual program offers or if it will even pass through Government red tape. The government has assumed that it would probably help over 20 million borrowers and save families an average of $250 per month on their payments, that would add to $35-70 billion in cost savings each year.
HARP 3.0 MYREFI (Proposed Possible Future Program)
HARP refinance loan application form requests are being processed now. You can click here to get started and to check your HARP mortgage loan eligibility. The fast application only takes a minute with no personal information required. You can also call 800-871-2636 7 days a week.
Are you a homeowner that does not currently have a traditional mortgage loan?