The Home Affordable Refinance Program (HARP) loan allows many homeowners in Hardee County to refinance their under water homes where it was previously not possible. If you are one of the several who are qualified for the newest HARP home refinance program, FiveStarsMortgage.com will help you to quickly help you in your loan. Call 800-871-2636 or fill out this HARP Information Request to get started toward a lower interest rate immediately.
HARP Refinance Background, Plan Criteria, and Information
The Making Home Affordable Program, first created and launched in 2009, lets a great number of homeowners who were previously unable to refinance their mortgage loan. Because of the common decreases in the economy and home value decline, home owners were bogged down paying more than they could afford on homes. Among the chief benefits of the program was the roll-out of the Home Affordable Refinance Program, or HARP. Because of this new mortgage refinancing approach, eligible home owners of Zolfo Springs with HARP Refinancing could possibly get a lower payment on their home loan and save a lot of money over the long haul.
The HARP program is for home owners with Freddie Mac or Fannie Mae backed mortgages who have a loan-to-value (LTV) ratio of greater than 80% on their mortgage. Because home mortgages that have an LTV in excess of 80% are often unable to qualify for standard mortgage refinancing options, the HARP program was essential to enable as many people as possible to begin spending less on their payments. As credit seekers demands have changed since the program was implemented, the HARP program has additionally been subject to some modifications to allow increased flexibility for approval. Currently, the HARP program made available is named HARP 2.0 and offers more flexible qualification guidelines. Below is a breakdown of the history and continuing growth of the HARP refinancing program:
HARP 1 (Original HARP Refinance)
The HARP 2.0 mortgage refinance loan program offers essential relief for Zolfo Springs home owners that were not able to refinance in the past as a result of diminishing house values. The modern version of the Home Affordable Refinance Program (HARP 2.0) has now been released. This new edition of HARP allows unlimited LTV, which is the most prominent alteration. It indicates no more restrictions on how much money a homeowner owes on their mortgage vs. how much money their home is currently worth! Zolfo Springs home owners upside-down or underwater with their mortgage will now get some help. On top of that, there are a reduced amount of restricted credit guidelines set up. Many of the other government backed home refinance programs in the past have fallen short of honestly aiding home owners to refinance their mortgage loan to a lower interest rate. The latest edition of the HARP mortgage program (2.0) provides the relief many Zolfo Springs homeowners have deparately needed for such a long time. It does not matter who your existing loan servicer is (Bank of America, Wells Fargo, Chase, Citi, etc) we are able to assist provided that your mortgage 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 important points of the program are based on what is currently being reviewed but it is not known what the ultimate program will offer or if it will even pass. The government has assumed that it would likely help over 20 million borrowers and save home-owners an average of $400 per month on the monthly payments, that can add up to $35-70 billion in savings every year.
HARP 3.0 My Refi (Planned Possible Future Program)
HARP refinance home loan application form requests are being accepted now. You can click here to get started and to check your HARP mortgage loan eligibility. The fast application form only takes a moment with no personal details ever required. You can also call 800-871-2636 7 days a week.
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