The Home Affordable Refinance Program (HARP) loan makes it possible for a great number of home-owners in Gadsden County to refinance their under water homes where it was previously unachievable. If you are one of the numerous who qualify for the newest HARP refinance program, FiveStarsMortgage.com will help you to quickly be of assistance to you with your home loan. Call 800-871-2636 or fill out this HARP Information Request to get going toward a lower interest rate immediately.
HARP Refinance Historical Background, Eligibility Prerequisites, and Changes
The Making Home Affordable Program, which was created and launched in late 2009, helps a large number of home owners who were previously helpless to get refinancing for their mortgage loan. As a consequence of complete decreases throughout the market and home value decline, homeowners were stuck spending more than they can afford on their homes. Amongst the most significant benefits of the program was the creation of the Home Affordable Refinance Program, or HARP. With this new mortgage refinancing program, qualified home owners of Chattahoochee, FL with HARP Refinancing may get a reduced payment on their home and help save lots of money in the long run.
The HARP process is for property owners with Freddie Mac or Fannie Mae backed mortgage loans having a loan-to-value (LTV) ratio of more than 80% on their mortgage. Because mortgage loans that have an LTV of more than 80% are often unable to qualify for common mortgage refinancing options, the HARP program was needed to enable as many people as possible to start lowering costs on their mortgage payments. As credit seekers needs have changed since the program began, the HARP program has additionally been subject to a number of adjustments permitting greater flexibility for approval. Currently, the HARP program provided is named HARP 2.0 and offers more flexible qualification requirements. Below is a summary of the history and development of the HARP refinance loan program:
HARP 1 (Original HARP Home refinance)
The HARP 2.0 home refinance loan program gives serious assistance for Chattahoochee home owners that did not refinance in the past caused by falling house values. The newest 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 important change. This indicates no more limitations on how much money a homeowner currently owes on their home vs. how much money their home is currently worth! Florida home owners upside down or underwater on their mortgage loan will get some help. The best part is, there are also less restrictive credit guidelines installed. Many of the other government relief loan refinancing programs in the past have fallen short of honestly supporting homeowners to refinance their home mortgage to a lower interest rate. The latest rendition of the HARP mortgage program (2.0) offers the relief many Chattahoochee homeowners have deparately needed for so long. Whatever who your existing loan servicing company is (Bank of America, Wells Fargo, Chase, Citi, etc) we can help you as long as your home mortgage is currently Fannie Mae or Freddie Mac backed.
HARP 3.0 is still a hypothetical scenario and all of the information provided is hypothesis. The facts of the program are derived from what is increasingly being outlined but it is not known what the finalized program offers or if it will even pass through Government red tape. The government has assumed that it would probably help over 30 million borrowers and save home owners an average of $200 a month on their monthly payments, that would add up to $35-70 billion in reductions each and every year.
HARP 3.0 My Refi (Projected Possible Future Program)
HARP refinance loan application requests are being processed now. You can click here to get started and to check your HARP loan eligibility. The quick application form only takes a moment with zero personal data ever required. You can also call 800-871-2636 7 days a week.
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