The Home Affordable Refinance Program (HARP) loan allows for a large number of homeowners in Putnam County to re-finance their underwater homes where it was previously unachievable. If you are one of the several who are qualified for the new HARP refinance program, FiveStarsMortgage.com will help you to efficiently help out in your mortgage. Call 800-871-2636 or fill out this HARP Information Request to get going toward a lower interest rate immediately.
HARP Refinance Background, Plan Requirements, and Updates
The Making Home Affordable Program, first created and started in late 2009, helps many home owners who had been previously helpless to refinance their mortgage. A result of common declines throughout the market and home values, homeowners were having problems spending money on more than they could afford on homes. One of the chief benefits of the program was the introduction of the Home Affordable Refinance Program, or HARP. With this new refinancing approach, approved residents of Georgetown with HARP Refinancing may get a decreased payment on their home loan and help save lots of money over the years.
The HARP process is for home owners with Freddie Mac or Fannie Mae backed mortgage loans who have a loan-to-value (LTV) ratio of more than 80% on their mortgage. Because mortgages with an LTV of over 80% are often unable to qualify for standard mortgage refinancing options, the HARP program was important to permit as many people as possible to start saving money on their monthly payments. As borrowers demands have changed since the program was implemented, the HARP program has also gone through a number of modifications to enable greater flexibility for acceptance. Presently, the HARP program sold is called HARP 2.0 and offers more flexible qualification requirements. This is the summary of the history and continuing growth of the HARP refinance loan program:
HARP 1 (Original HARP Refinance mortgage loan)
The HARP 2.0 home refinance loan program can give sizeable assistance for Georgetown, FL home owners that were not able to refinance in the past attributable to reducing home values. The new version of the Home Affordable Refinance Program (HARP 2.0) has now been released. This new edition of HARP allows unrestricted LTV, which is the most essential adjustment. This means no more limitations on how much a homeowner currently owes on their mortgage loan verses how much money their home is currently worth! Georgetown homeowners upside down or underwater with their home loan will get some relief. The best part is, there are also a lot less restrictive credit regulations set up. Most of the other government relief home refinance programs in the past have fallen short of truly aiding homeowners to refinance their mortgage to a lower rate of interest. The present variation of the HARP mortgage program (2.0) provides the relief many Georgetown, FL property owners have needed for way too long. No matter what who your existing loan servicer is (Wells Fargo, Bank of America, Chase, Citi, etc) we can help you on condition that your home mortgage is currently Fannie Mae or Freddie Mac backed.
HARP 3.0 is still a hypothetical scenario and all of the information discussed is simply speculation. The main points of the program derive from what is currently being spoken about but it is unknown what the eventual program can provide or if it will even pass. The federal government has assumed that it would likely help over 20 million borrowers and save home owners an average of $400 per month on their monthly mortgage payments, that may add to $35-70 billion in financial benefits each year.
HARP 3 MYREFI (Projected Possible Future Program)
HARP refinance loan application form requests are being handled now. You can click here to get started and to check your HARP mortgage eligibility. The quick application form only takes a few minutes with zero personal details ever 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?