The Home Affordable Refinance Program (HARP) loan enables countless home owners in Lee County to re-finance their underwater homes where it was previously unattainable. If you are among the many who are qualified for the latest HARP loan refinancing program, FiveStarsMortgage.com will help you to swiftly assist in your loan. 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 Information
The Making Home Affordable Program, first created and started in late 2009, helps a large number of homeowners who were previously helpless to refinance their mortgage loan. By way of general decreases throughout the market and home value decline, homeowners were bogged down paying more than they can afford on homes. Amongst the best benefits of the program was the development of the Home Affordable Refinance Program, or HARP. With this new refinancing program, eligible residents of Fort Myers, FL with HARP Refinancing could get a decreased payment for their home and help save thousands of dollars over time.
The HARP program is for homeowners with Freddie Mac or Fannie Mae backed home loans who have a loan-to-value (LTV) ratio greater than 80% on their mortgage. Because mortgages that have an LTV more than 80% are often not in a position to qualify for common mortgage refinancing options, the HARP program was necessary to permit as many people as possible to start saving money on their payments. As borrowers expectations have changed since the program began, the HARP program has also undergone some modifications to allow for far more flexibility for approval. Presently, the HARP program made available is often called HARP 2.0 and provides more flexible qualification conditions. Here is a summary of the background and continuing growth of the HARP refinancing program:
HARP 1 (Original HARP Refinance)
The HARP 2.0 home refinance loan process provides critical assistance for Fort Myers home owners that could not refinance in the past on account of reducing 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 critical alteration. Therefore no more limits on how much money a home owner owes on their home loan vs. how much money their house is currently worth! Florida home-owners upside-down or under water on their mortgage can get some help. On top of that, there are also fewer restricted credit guidelines implemented. Most of the other government backed refinance loan programs in the past have fallen short of actually supporting home-owners to refinance their home mortgage to a lower interest rate. The current rendition of the HARP mortgage program (2.0) provides the help many Fort Myers homeowners have needed for way too long. Whatever who your actual loan servicer is (Citi, Chase, Wells Fargo, Bank of America, etc) we can provide assistance so long as your mortgage loan is currently Fannie Mae or Freddie Mac backed.
HARP 3 is still a hypothetical scenario and all of the information discussed is simply hypothesis. The details of the program are derived from what is increasingly being reviewed but it is not known what the finished program will offer or if it will even pass. The federal government has assumed that it would most likely help over 20 million borrowers and save home-owners an average of $200 per month on mortgage payments, which might total $35-70 billion in savings each year.
HARP 3.0 MYREFI (Planned 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 loan eligibility. The quick application form only takes a few minutes with zero 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 conventional mortgage?