The Home Affordable Refinance Program (HARP) loan would allow a large number of home-owners in Okeechobee County to re-finance their underwater homes when it was previously unachievable. If you are among the many who are qualified for the latest HARP refinance program, FiveStarsMortgage.com will help you to swiftly assist in your mortgage. Call 800-871-2636 or fill out this HARP Information Request to get started toward a lower interest rate immediately.
HARP Refinance Qualifications, Eligibility Guidelines, and Updates
The Making Home Affordable Program, first created and initiated in late 2009, lets many home owners who had been previously struggling to refinance their home loan. Mainly because of total declines throughout the market and home values, homeowners were trapped having to pay more than they can afford on homes. Among the primary benefits of the program was the roll-out of the Home Affordable Refinance Program, or HARP. Utilizing this new mortgage refinancing process, approved homeowners of Okeechobee, FL with HARP Refinancing could get a reduced payment for their home and help save a lot of money in the long term.
The HARP system is for property owners with Freddie Mac or Fannie Mae backed home loans who have a loan-to-value (LTV) ratio of more than 80% on their mortgage. Because home mortgages with an LTV of over 80% are often unable to qualify for conventional loan refinancing options, the HARP program was important to allow for as many people as possible to begin spending less on their monthly payments. As borrowers needs have changed since the program was implemented, the HARP program has also undergone some alterations to allow a lot more flexibility for acceptance. At this time, the HARP program being offered is named HARP 2.0 and gives more flexible qualification standards. This is a summary of the background and progression of the HARP loan refinancing program:
HARP 1 (Original HARP Refinance)
The HARP 2.0 mortgage refinance loan program offers critical assistance for Okeechobee home owners that were not able to refinance their home in the past stemming from declining home values. The new version of the Home Affordable Refinance Program (HARP 2.0) has now been released. This new version of HARP allows unlimited LTV, which is the most prominent change. This indicates no more limitations on how much a homeowner currently owes on their mortgage loan verses how much money their home is currently worth. Florida home owners upside down or under water with their mortgage can get some relief. Moreover, there are also less restrictive credit regulations set up. Many of the so called government home refinance programs in the past have fallen short of truly assisting home owners to refinance their home loan to a lower rate of interest. The current variation of the HARP mortgage program (2.0) provides the relief many Okeechobee home owners have needed for such a long time. No matter what who your actual loan provider is (Wells Fargo, Bank of America, Citi, Chase, etc) we are able to help you on condition that your home mortgage is at present Fannie Mae or Freddie Mac backed.
HARP 3 is still a hypothetical scenario and all of the information provided is speculation. The facts of the program are based on what is currently being spoken about but it is not known what the final program will offer you or if it will even have the chance of passing. The government has assumed that it would probably help over 30 million borrowers and save home-owners an average of $250 a month on the payments, which could add up to $35-70 billion in savings each year.
HARP 3.0 MYREFI (Proposed Potential Program)
HARP refinance mortgage application form requests are being handled now. You can click here to get started and to check your HARP loan eligibility. The quick application only takes a minute with zero personal data ever required. You can also call 800-871-2636 7 days a week.
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