The Home Affordable Refinance Program (HARP) loan would allow a great number of homeowners in Holmes County to re-finance their under water homes when it was previously unattainable. If you are among the many who are qualified for the new HARP loan refinancing program, FiveStarsMortgage.com will help you to swiftly help out with your mortgage. Call 800-871-2636 or fill out this HARP Information Request to get going toward a lower interest rate immediately.
HARP Refinance Background, Plan Guidelines, and Enhancements
The Making Home Affordable Program, which was created and launched in late 2009, helps a large number of homeowners who were previously struggling to refinance their mortgage. As a result of overall decreases in the economy and property values, home owners were having trouble paying more than they could afford on their homes. One of the main benefits of the program was the roll-out of the Home Affordable Refinance Program, or HARP. Because of this new loan refinancing approach, eligible residents of Westville, FL with HARP Refinancing may get a cheaper payment on their home loan and save a lot of money in the long run.
The HARP process is for home-owners with Freddie Mac or Fannie Mae backed home loans who have a loan-to-value (LTV) ratio in excess of 80% on the mortgage. Because mortgage loans with an LTV more than 80% are often not in a position to qualify for standard refinancing options, the HARP program was essential to allow for as many people as possible to start spending less on their monthly mortgage payments. As credit seekers expectations have changed since the program was implemented, the HARP program has also been through a number of changes to enable far more flexibility for approval. Right now, the HARP program being offered is often called HARP 2.0 and provides more flexible qualification prerequisites. This is the review of the history and continuing growth of the HARP refinance loan program:
HARP 1 (Original HARP Refinance mortgage loan)
The HARP 2.0 home refinance loan process provides major assistance for Westville, FL home owners that could not refinance in the past caused by falling home values. The new version of the Home Affordable Refinance Program (HARP 2.0) has now been released. This new edition of HARP allows unrestricted LTV, which is the most important adjustment. This means no more limits on how much money a home owner owes on their mortgage loan verses how much their house is currently worth! Westville, FL home owners upside down or underwater on their mortgage can get some assistance. Moreover, there are also a reduced amount of restrictive credit guidelines set up. Many of the other government relief home refinance programs in the past have fallen short of actually assisting homeowners to refinance their home mortgage to a lower rate of interest. The latest edition of the HARP mortgage program (2.0) provides the relief many Westville, FL home owners have deparately needed for way too long. Irrespective of who your current loan servicing company is (Bank of America, Wells Fargo, Chase, Citi, etc) we can help you on condition that your 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 specifics of the program are based on what is currently being discussed but it is not known what the ultimate program will offer or if it will even pass. The federal government has assumed that it would likely help over 20 million borrowers and save home-owners an average of $200 a month on the monthly payments, that can add to $35-70 billion in cost savings every year.
HARP 3 MYREFI (Proposed Potential Future Program)
HARP refinance loan application requests are being accepted 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 conventional mortgage loan?