The Home Affordable Refinance Program (HARP) loan will permit countless home owners in Hernando County to re-finance their under water homes where it was previously unachievable. If you are one of many who are qualified for the latest HARP loan refinancing program, FiveStarsMortgage.com will help you to easily help you with your loan. Call 800-871-2636 or fill out this HARP Information Request to get going toward a lower interest rate immediately.
HARP Refinance Qualifications, Plan Guidelines, and Information
The Making Home Affordable Program, which was created and started in late 2009, allows for many homeowners who had been previously helpless to get refinancing for their home loan. Attributed to basic decreases in the economy and home value decline, homeowners were trapped spending money on more than they can afford on their homes. One of the largest benefits of the program was the roll-out of the Home Affordable Refinance Program, or HARP. With this new mortgage refinancing approach, qualified home owners of Nobleton, FL with HARP Refinancing could possibly get a cheaper payment on their mortgage loan and save yourself thousands of dollars in the long term.
The HARP system is for home-owners with Freddie Mac or Fannie Mae backed mortgage loans having a loan-to-value (LTV) ratio in excess of 80% on their home loan. Because home loans that have an LTV of more than 80% are often not able to qualify for typical refinancing options, the HARP program was necessary to permit as many people as possible to start lowering costs on their payments. As borrowers demands have changed since the program began, the HARP program has additionally been subject to quite a few alterations to allow for increased flexibility for approval. Right now, the HARP program provided is identified as HARP 2.0 and gives more flexible qualification conditions. Below is a review of the history and continuing growth of the HARP refinance program:
HARP 1 (Original HARP Home refinance)
The HARP 2.0 home refinance loan program offers considerable assistance for Nobleton, FL home owners that did not refinance their home in the past because of decreasing home values. The new 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 important alteration. What this means is no more restrictions on how much a homeowner currently owes on their home vs. how much money their home is currently worth. Nobleton, FL home owners upside-down or under water in their mortgage loan will have some assistance. The best part is, there are also fewer restrictive credit guidelines implemented. Most of the so called government refinance programs in the last several years have fallen short of honestly supporting home owners to refinance their mortgage to a lower rate of interest. The latest rendition of the HARP mortgage program (2.0) offers the help many Nobleton, FL property owners have deparately needed for such a long time. No matter what who your existing loan provider is (Wells Fargo, Bank of America, Chase, Citi, etc) we can provide assistance provided 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 details of the program are derived from what is increasingly being spoken about but it is not known what the finalized program may offer or if it will even have the chance of passing. The federal government has assumed that it would probably help over 30 million borrowers and save home-owners an average of $250 a month on the mortgage payments, that could add to $35-70 billion in reductions yearly.
HARP 3.0 MYREFI (Projected Potential Future Program)
HARP refinance home loan application requests are being processed now. You can click here to get started and to check your HARP mortgage eligibility. The short application form only takes a few minutes with no personal data ever required. You can also call 800-871-2636 7 days a week.
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