The Home Affordable Refinance Program (HARP) loan will permit many home owners in Miami-Dade County to refinance their underwater homes when it was previously unachievable. If you are one of the numerous who are qualified for the latest HARP loan refinancing program, FiveStarsMortgage.com will help you to efficiently assist with your mortgage. Call 800-871-2636 or fill out this HARP Information Request to get started toward a lower interest rate immediately.
HARP Refinance Qualifications, Plan Criteria, and Features
The Making Home Affordable Program, which was created and initiated in 2009, helps a large number of homeowners who were previously struggling to refinance their home loan. A consequence of all around declines in the economy and home value decline, homeowners were bogged down having to pay more than they could afford on homes. One of the most significant benefits of the program was the roll-out of the Home Affordable Refinance Program, or HARP. With this new loan refinancing approach, eligible home owners of Golden Beach with HARP Refinancing could possibly get a reduced payment on their mortgage loan and save yourself lots of money over time.
The HARP program is for home-owners with Freddie Mac or Fannie Mae backed home loans that have a loan-to-value (LTV) ratio greater than 80% on the mortgage loan. Because mortgage loans that have an LTV more than 80% are often unable to qualify for conventional refinancing options, the HARP program was important to let as many people as possible to start spending less on their monthly mortgage payments. As credit seekers demands have changed since the program was implemented, the HARP program has also been subject to some adjustments to enable significantly more flexibility for approval. At this time, the HARP program made available is referred to as HARP 2.0 and gives more flexible qualification requirements. This is the review of the history and continuing growth of the HARP refinance program:
HARP 1 (Original HARP Refinance mortgage loan)
The HARP 2.0 home refinance loan program is providing major assistance for Golden Beach, FL home owners that were not able to refinance in the past as a consequence of reducing home values. The new version of the Home Affordable Refinance Program (HARP 2.0) has now been released. This new version of HARP allows unlimited LTV, which is the most significant modification. This indicates no more limitations on how much money a homeowner owes on their mortgage verses how much money their property is currently worth. Golden Beach, FL home-owners upside down or underwater on their mortgage will have some relief. The best part is, there are a lot less restrictive credit guidelines in place. Many of the so called government backed home refinance programs in the last several years have fallen short of actually helping home owners to refinance their mortgage to a lower interest rate. The current rendition of the HARP mortgage program (2.0) provides the help many Golden Beach, FL home owners have deparately needed for too long. Whatever who your loan servicing company is (Citi, Chase, Wells Fargo, Bank of America, etc) we are able to 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 provided is hypothesis. The specifics of the program are derived from what is currently being spoken about but it is unknown what the eventual program will offer 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 $300 per month on the monthly mortgage payments, that could add to $35-70 billion in financial benefits annually.
HARP 3 My Refi (Recommended Future Program)
HARP refinance home loan application form requests are being processed 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 zero personal details required. You can also call 800-871-2636 7 days a week.
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