The Home Affordable Refinance Program (HARP) loan would allow a great number of home owners in Liberty County to refinance their underwater homes where it was previously not possible. If you are one of the several who qualify for the latest HARP refinance program, FiveStarsMortgage.com can assist you to efficiently be of assistance to you 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 History, Eligibility Prerequisites, and Updates
The Making Home Affordable Program, first created and initiated in late 2009, allows for numerous homeowners who had been previously helpless to get refinancing for their mortgage loan. Caused by general declines throughout the market and home values, home owners were having trouble paying more than they can afford on homes. One of the chief benefits of the program was the introduction of the Home Affordable Refinance Program, or HARP. Utilizing this new mortgage refinancing program, approved homeowners of Bristol with HARP Refinancing could get a reduced payment on their mortgage loan and help you save lots of money over time.
The HARP process is for home owners with Freddie Mac or Fannie Mae backed mortgages who have a loan-to-value (LTV) ratio in excess of 80% on the home loan. Because home loans with an LTV in excess of 80% are often not able to qualify for typical loan refinancing options, the HARP program was essential to allow as many people as possible to start saving money on their mortgage payments. As credit seekers expectations have changed since the program began, the HARP program has also undergone a number of changes to allow for extra flexibility for approval. At present, the HARP program available is known as HARP 2.0 and provides more flexible qualification guidelines. Below is a review of the historical past and continuing growth of the HARP refinancing program:
HARP 1 (Original HARP Refinance)
The HARP 2.0 mortgage refinance loan program is providing considerable assistance for Bristol home owners that were not able to refinance in the past resulting from declining house values. The new version of the Home Affordable Refinance Program (HARP 2.0) has now been released. This new edition of HARP allows unlimited loan to value, which is the most essential alteration. Meaning no more limitations on how much money a homeowner currently owes on their home verses how much their home is currently worth! Bristol, FL home owners upside-down or underwater on their mortgage can get some assistance. Also, there are also a lot less restrictive credit guidelines installed. Many of the so called government loan refinancing programs in the past have fallen short of actually assisting home-owners to refinance their home mortgage to a lower interest rate. The latest version of the HARP mortgage program (2.0) provides the relief many Bristol, FL home owners have deparately needed for such a long time. Regardless of who your loan servicer is (Wells Fargo, Bank of America, Chase, Citi, etc) we can help you providing your mortgage loan is presently Fannie Mae or Freddie Mac backed.
HARP 3.0 is still a hypothetical scenario and all of the information provided is speculation. The main points of the program are based on what is increasingly being spoken about but it is not known what the ultimate program will provide or if it will even have the chance of passing. The government has assumed that it would probably help over 20 million borrowers and save home-owners an average of $300 per month on monthly payments, that could add up to $35-70 billion in financial benefits yearly.
HARP 3.0 My Refi (Proposed Potential Program)
HARP refinance loan application form requests are being accepted now. You can click here to get started and to check your HARP mortgage eligibility. The fast application form only takes a few minutes with no personal info required. You can also call 800-871-2636 7 days a week.
Are you a home-owner that does not presently have a traditional mortgage?