The Home Affordable Refinance Program (HARP) loan would allow countless homeowners in Sumter County to refinance their underwater homes where it was previously unachievable. If you are among the numerous who qualify for the latest HARP refinance program, FiveStarsMortgage.com can assist you to efficiently help out with the 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 Guidelines, and Information
The Making Home Affordable Program, first created and started in late 2009, lets a great number of home owners who had been previously helpless to get refinancing for their mortgage. Through existing declines in the economy and home value decline, home owners were having problems having to pay more than they can afford on homes. One of the best benefits of the program was the creation of the Home Affordable Refinance Program, or HARP. Because of this new loan refinancing process, qualified residents of Coleman with HARP Refinancing could possibly get a decreased payment on their home and save yourself a lot of money in the long run.
The HARP program is for home owners with Freddie Mac or Fannie Mae backed home mortgages having a loan-to-value (LTV) ratio of over 80% on their mortgage. Because mortgages that have an LTV of more than 80% are often unable to qualify for typical mortgage refinancing options, the HARP program was important to enable as many people as possible to begin saving money on their mortgage payments. As borrowers expectations have changed since the program was implemented, the HARP program has also undergone some variations to allow for much more flexibility for approval. At present, the HARP program made available is often called HARP 2.0 and offers more flexible qualification prerequisites. Here is a review of the background and continuing growth of the HARP loan refinancing program:
HARP 1 (Original HARP Refinance)
The HARP 2.0 home refinance loan program is providing critical assistance for Coleman home owners that were not able to refinance in the past due to reducing home 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 essential modification. This indicates no more limits on how much money a homeowner owes on their home verses how much their home is currently worth. Coleman, FL home-owners upside down or under water on their mortgage loan can get some help. The best part is, there are also a reduced amount of restricted credit regulations in place. Many of the so called government backed refinance loan programs in the past have fallen short of truly supporting home-owners to refinance their home loan to a lower rate of interest. The present edition of the HARP mortgage program (2.0) offers the relief many Coleman, FL property owners have deparately needed for way too long. Despite who your existing loan servicer is (Citi, Chase, Wells Fargo, Bank of America, etc) we are able to assist on condition that your home mortgage is currently Fannie Mae or Freddie Mac backed.
HARP 3 is still a hypothetical scenario and all of the information provided is speculation. The main points of the program are based upon what is currently being reviewed but it is unknown what the finished program will offer you or if it will even pass through Government red tape. The federal government has assumed that it would likely help over 30 million borrowers and save home owners an average of $200 a month on their mortgage payments, which might add up to $35-70 billion in savings yearly.
HARP 3.0 My Refi (Planned Potential Program)
HARP refinance loan application form requests are being handled now. You can click here to get started and to check your HARP mortgage loan eligibility. The short application form only takes a few minutes without any 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 loan?