The Home Affordable Refinance Program (HARP) loan allows countless homeowners in Broward County to refinance their underwater homes when it was previously unachievable. If you are among the many who are qualified for the latest HARP loan refinancing program, FiveStarsMortgage.com will help you to efficiently assist with the mortgage loan. Call 800-871-2636 or fill out this HARP Information Request to get going toward a lower interest rate immediately.
HARP Refinance Background, Eligibility Guidelines, and Information
The Making Home Affordable Program, which was created and launched in late 2009, allows for a large number of homeowners who were previously struggling to get refinancing for their mortgage. Caused by general declines in the economy and home values, homeowners were cornered having to pay more than they could afford on their homes. Among the chief benefits of the program was the development of the Home Affordable Refinance Program, or HARP. Because of this new mortgage refinancing approach, eligible residents of Hallandale Beach, FL with HARP Refinancing could possibly get a lower payment on their home loan and help you save lots of money in the long run.
The HARP program 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 their home loan. Because mortgage loans that have an LTV in excess of 80% are often unable to qualify for common loan refinancing options, the HARP program was essential to enable as many people as possible to begin lowering costs on their mortgage payments. As credit seekers needs have changed since the program began, the HARP program has additionally been subject to a number of improvements to allow for additional flexibility for acceptance. Currently, the HARP program sold is labeled HARP 2.0 and provides more flexible qualification standards. This is a review of the background and continuing growth of the HARP refinance program:
HARP 1 (Original HARP Home refinance)
The HARP 2.0 home refinance loan process can give substantial relief for Hallandale Beach home owners that could not refinance their home in the past on account of dropping home values. The new 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 important alteration. What this means is no more limitations on how much money a home owner owes on their home loan verses how much money their property is currently worth. Hallandale Beach home-owners upside down or underwater with their mortgage can have some relief. The best part is, there are a reduced amount of restrictive credit regulations set up. Most of the other government backed refinance programs in the last several years have fallen short of honestly supporting homeowners to refinance their mortgage loan to a lower interest rate. The modern edition of the HARP mortgage program (2.0) offers the relief many Hallandale Beach, FL home-owners have deparately needed for so long. Whatever who your loan provider is (Wells Fargo, Bank of America, Chase, Citi, etc) we are able to provide assistance on condition that your mortgage is presently Fannie Mae or Freddie Mac backed.
HARP 3.0 is still a hypothetical scenario and all of the information provided is speculation. The details of the program are based on what is currently being discussed but it is not known what the finalized program can provide or if it will even have the chance of passing. The government has assumed that it would likely help over 20 million borrowers and save home owners an average of $200 per month on their payments, that would add to $35-70 billion in financial benefits annually.
HARP 3 My Refi (Proposed Future Program)
HARP refinance loan application requests are being accepted now. You can click here to get started and to check your HARP loan eligibility. The fast application form only takes a few minutes and no personal details required. You can also call 800-871-2636 7 days a week.
Are you a homeowner that does not presently have a traditional mortgage loan?