The Home Affordable Refinance Program (HARP) loan helps a great number of homeowners in Baker County to re-finance their under water homes where it was previously impossible. If you are one of the numerous who are qualified for the newest HARP home refinance program, FiveStarsMortgage.com can assist you to quickly assist in your mortgage. Call 800-871-2636 or fill out this HARP Information Request to get going toward a lower interest rate immediately.
HARP Refinance History, Plan Guidelines, and Information
The Making Home Affordable Program, which was created and initiated in late 2009, helps numerous home owners who were previously helpless to refinance their mortgage loan. Stemming from total declines throughout the market and property values, homeowners were trapped paying more than they could afford on their 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 program, approved homeowners of Macclenny with HARP Refinancing may get a lower payment for their mortgage and save yourself thousands of dollars in the long run.
The HARP approach is for property owners with Freddie Mac or Fannie Mae backed mortgage loans that have a loan-to-value (LTV) ratio of more than 80% on the mortgage loan. Because home mortgages that have an LTV of more than 80% are often not able to qualify for typical refinancing options, the HARP program was necessary to let as many people as possible to begin lowering costs on their monthly payments. As borrowers needs have changed since the program began, the HARP program has also undergone some adjustments permitting more flexibility for approval. Right now, the HARP program offered is called HARP 2.0 and gives more flexible qualification requirements. This is the summary of the historical past and development of the HARP loan refinancing program:
HARP 1 (Original HARP Refinance mortgage loan)
The HARP 2.0 mortgage refinance loan program is providing sizeable relief for Macclenny home owners that could not refinance their home in the past as a consequence of falling house values. The new version of the Home Affordable Refinance Program (HARP 2.0) has now been released. This new edition of HARP allows unlimited loan to value, which is the most vital change. This indicates no more limitations on how much a home owner currently owes on their mortgage loan vs. how much money their house is currently worth! Macclenny, FL home owners upside-down or underwater on their mortgage can have some help. Also, there are also less restrictive credit regulations installed. Most of the other government backed refinance programs in the last several years have fallen short of honestly helping home owners to refinance their home loan to a lower interest rate. The modern rendition of the HARP mortgage program (2.0) provides the help many Macclenny property owners have needed for too long. Irrespective of who your current loan provider is (Citi, Chase, Wells Fargo, Bank of America, etc) we are able to help you providing your home mortgage is presently Fannie Mae or Freddie Mac backed.
HARP 3 is still a hypothetical scenario and all of the information provided is hypothesis. The main points of the program are based on what is currently being spoken about but it is not known what the eventual program can provide or if it will even pass. The federal government has assumed that it would most likely help over 30 million borrowers and save families an average of $250 a month on the payments, that could add up to $35-70 billion in cost savings every year.
HARP 3 MYREFI (Suggested Potential Program)
HARP refinance mortgage application form requests are being accepted now. You can click here to get started and to check your HARP loan eligibility. The short application only takes a moment and no personal info 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?