The Home Affordable Refinance Program (HARP) loan would allow many home owners in Marion County to re-finance their under water homes where it was previously unattainable. If you are one of the several who qualify for the latest HARP loan refinancing program, FiveStarsMortgage.com can help you to easily be of assistance to you with your home loan. Call 800-871-2636 or fill out this HARP Information Request to get started toward a lower interest rate immediately.
HARP Refinance Background, Eligibility Guidelines, and Updates
The Making Home Affordable Program, which was created and launched in late 2009, lets many homeowners who were previously unable to get refinancing for their mortgage loan. Because of existing decreases in the economy and home value decline, home owners were having difficulty having to pay more than they could afford on their homes. One of the chief benefits of the program was the development of the Home Affordable Refinance Program, or HARP. Because of this new refinancing process, qualified home owners of Belleview with HARP Refinancing could get a smaller payment on their mortgage loan and help you save a lot of money in the long term.
The HARP approach is for home-owners with Freddie Mac or Fannie Mae backed mortgage loans who have a loan-to-value (LTV) ratio in excess of 80% on their home loan. Because home mortgages with an LTV of over 80% are often not in a position to qualify for conventional loan refinancing options, the HARP program was needed to enable as many people as possible to start spending less on their payments. As credit seekers needs have changed since the program began, the HARP program has also gone through some adjustments to enable added flexibility for approval. Right now, the HARP program offered is called HARP 2.0 and gives more flexible qualification guidelines. This is a breakdown of the background and progression of the HARP loan refinancing program:
HARP 1 (Original HARP Refinance loan)
The HARP 2.0 home refinance loan process offers essential assistance for Belleview home owners that did not refinance their home in the past resulting from falling home values. The newest 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 vital alteration. This means no more limitations on how much a home owner owes on their mortgage loan vs. how much their house is currently worth. Belleview, FL home owners upside-down or underwater with their mortgage can get some help. Moreover, there are also a reduced amount of restrictive credit guidelines in place. Most of the other government refinance programs in the last several years have fallen short of honestly aiding home-owners to refinance their home mortgage to a lower rate of interest. The modern edition of the HARP mortgage program (2.0) provides the relief many Belleview, FL property owners have deparately needed for way too long. It does not matter who your current loan provider is (Wells Fargo, Bank of America, Chase, Citi, etc) we can assist provided that your mortgage is currently Fannie Mae or Freddie Mac backed.
HARP 3 is still a hypothetical scenario and all of the information specified is simply speculation. The facts of the program are derived from what is currently being discussed but it is unknown what the ultimate program will offer or if it will even have the chance of passing. The federal government has assumed that it would most likely help over 30 million borrowers and save home-owners an average of $350 per month on the monthly payments, that may add up to $35-70 billion in reductions each and every year.
HARP 3 My Refi (Recommended Potential Future Program)
HARP refinance mortgage application form requests are being handled now. You can click here to get started and to check your HARP mortgage loan eligibility. The quick application form only takes a moment with no personal info 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?