The Home Affordable Refinance Program (HARP) loan makes it possible for a large number of homeowners in Brevard County to re-finance their under water homes where it was previously unachievable. If you are among the numerous who qualify for the new HARP refinancing program, FiveStarsMortgage.com will help you to swiftly be of assistance to you in your mortgage loan. Call 800-871-2636 or fill out this HARP Information Request to get going toward a lower interest rate immediately.
HARP Refinance Background, Eligibility Requirements, and Enhancements
The Making Home Affordable Program, first created and launched in late 2009, enables numerous homeowners who were previously helpless to get refinancing for their mortgage loan. Because of the complete decreases throughout the market and home values, homeowners were cornered spending money on more than they can afford on homes. Among the most significant benefits of the program was the development of the Home Affordable Refinance Program, or HARP. Utilizing this new loan refinancing approach, eligible home owners of Cape Canaveral, FL with HARP Refinancing can usually get a decreased payment for their mortgage and help save lots of money over the long haul.
The HARP approach is for homeowners with Freddie Mac or Fannie Mae backed home loans having a loan-to-value (LTV) ratio of greater than 80% on their mortgage loan. Because home mortgages that have an LTV of more than 80% are often not able to qualify for typical mortgage refinancing options, the HARP program was essential to let as many people as possible to start saving money on their monthly payments. As borrowers demands have changed since the program began, the HARP program has also been subject to some modifications to permit a lot more flexibility for approval. Currently, the HARP program made available is identified as HARP 2.0 and gives more flexible qualification specifications. Here is a breakdown of the background and progression of the HARP home refinance loan program:
HARP 1 (Original HARP Home refinance)
The HARP 2.0 home refinance loan program offers substantial assistance for Cape Canaveral home owners that could not refinance in the past due to falling home values. The latest version of the Home Affordable Refinance Program (HARP 2.0) has now been released. This new edition of HARP allows unrestricted loan to value, which is the most critical change. Meaning no more limitations on how much a homeowner owes on their mortgage loan verses how much their property is currently worth! Cape Canaveral, FL home-owners upside-down or underwater on their home loan can have some relief. On top of that, there are a lot less restrictive credit guidelines implemented. Most of the so called government refinance loan programs in the past have fallen short of actually assisting home owners to refinance their mortgage loan to a lower rate of interest. The current edition of the HARP mortgage program (2.0) provides the help many Cape Canaveral, FL home owners have needed for such a long time. Irrespective of who your existing loan servicing company is (Citi, Chase, Wells Fargo, Bank of America, etc) we are able to assist providing your 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 details of the program are based upon what is currently being reviewed but it is not known what the finished program will provide or if it will even pass. The government has assumed that it would most likely help over 30 million borrowers and save homeowners an average of $200 a month on payments, that would add up to $35-70 billion in savings each year.
HARP 3.0 MYREFI (Recommended Potential 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 and no personal data required. You can also call 800-871-2636 7 days a week.
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