The Home Affordable Refinance Program (HARP) loan enables a large number of home-owners in Holmes County to refinance their underwater homes where it was previously not possible. If you are one of the several who are qualified for the newest HARP home refinance program, FiveStarsMortgage.com can assist you to swiftly 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 Qualifications, Eligibility Prerequisites, and Updates
The Making Home Affordable Program, which was created and initiated in late 2009, lets a large number of home owners who had been previously helpless to refinance their mortgage loan. Through general decreases in the economy and property values, home owners were having problems spending more than they could afford on their homes. One of the chief benefits of the program was the roll-out of the Home Affordable Refinance Program, or HARP. Utilizing this type of new refinancing program, eligible residents of Bruce, FL with HARP Refinancing can usually get a cheaper payment for their mortgage loan and help save a lot of money over the long haul.
The HARP process is for home-owners with Freddie Mac or Fannie Mae backed mortgage loans that have a loan-to-value (LTV) ratio of greater than 80% on the home loan. Because mortgages with an LTV in excess of 80% are often unable to qualify for traditional loan refinancing options, the HARP program was important to permit as many people as possible to start saving money on their monthly mortgage payments. As borrowers demands have changed since the program was implemented, the HARP program has additionally gone through a number of alterations to enable much more flexibility for acceptance. Currently, the HARP program available is referred to as HARP 2.0 and gives more flexible qualification standards. This is the review of the background and expansion of the HARP refinance loan program:
HARP 1 (Original HARP Refinance)
The HARP 2.0 mortgage refinance loan process gives substantial assistance for Bruce home owners that could not refinance in the past attributable to shrinking home values. The modern version of the Home Affordable Refinance Program (HARP 2.0) has now been released. This new version of HARP allows unrestricted loan to value, which is the most essential adjustment. This simply means no more restrictions on how much a home owner currently owes on their home loan verses how much money their property is currently worth! Bruce home-owners upside down or underwater with their mortgage loan can get some assistance. Moreover, there are less restrictive credit regulations in place. Many of the so called government relief refinance loan programs in the past have fallen short of truly assisting home-owners to refinance their mortgage loan to a lower rate of interest. The modern variation of the HARP mortgage program (2.0) offers the help many Bruce, FL property owners have deparately needed for so long. Whatever who your actual loan servicing company is (Wells Fargo, Bank of America, Citi, Chase, etc) we are able to 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 specified is simply hypothesis. The facts of the program are derived from what is currently being discussed but it is unknown what the eventual program will give you or if it will even pass through Government red tape. The government has assumed that it would probably help over 20 million borrowers and save families an average of $350 a month on monthly mortgage payments, that can total $35-70 billion in savings each year.
HARP 3 My Refi (Planned Possible Future Program)
HARP refinance loan application requests are being processed now. You can click here to get started and to check your HARP mortgage loan eligibility. The short application form only takes one minute with zero personal info ever required. You can also call 800-871-2636 7 days a week.
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