The Home Affordable Refinance Program (HARP) loan allows for a large number of homeowners in Taylor County to re-finance their under water homes when it was previously not possible. If you are one of the several who qualify for the new HARP refinancing program, FiveStarsMortgage.com can help you to easily 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, Eligibility Requirements, and Information
The Making Home Affordable Program, which was created and started in late 2009, helps a large number of home owners who were previously unable to refinance their home loan. As a result of common decreases in the economy and property values, homeowners were stuck spending 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 mortgage refinancing process, qualified residents of Perry, FL with HARP Refinancing can usually get a more affordable payment for their mortgage and save a lot of money over time.
The HARP process is for property owners with Freddie Mac or Fannie Mae backed mortgage loans having a loan-to-value (LTV) ratio in excess of 80% on their mortgage loan. Because mortgages with an LTV of over 80% are often not in a position to qualify for typical refinancing options, the HARP program was necessary to let as many people as possible to begin lowering costs on their mortgage payments. As credit seekers needs have changed since the program began, the HARP program has also gone through some changes to permit extra flexibility for acceptance. At this time, the HARP program sold is labeled HARP 2.0 and provides more flexible qualification conditions. This is a review of the history and progression of the HARP loan refinancing program:
HARP 1 (Original HARP Home refinance)
The HARP 2.0 mortgage refinance loan process gives major assistance for Perry, FL home owners that were not able to refinance their home in the past as a result of diminishing house values. The newest version of the Home Affordable Refinance Program (HARP 2.0) has now been released. This new version of HARP allows unrestricted LTV, which is the most important adjustment. It indicates no more restrictions on how much a homeowner currently owes on their mortgage vs. how much their house is currently worth. Perry, FL home-owners upside-down or under water in their mortgage loan can have some relief. In addition to this, there are less restricted credit guidelines implemented. Many of the other government backed home refinance programs in the past have fallen short of truly supporting home-owners to refinance their mortgage loan to a lower interest rate. The latest variation of the HARP mortgage program (2.0) offers the help many Perry home-owners have deparately needed for too long. Whatever who your actual loan servicing company is (Bank of America, Wells Fargo, Chase, Citi, etc) we are able to help you so long as your home mortgage is at present Fannie Mae or Freddie Mac backed.
HARP 3.0 is still a hypothetical scenario and all of the information discussed is simply speculation. The important points of the program are based upon what is increasingly being reviewed but it is unknown what the ultimate program will provide or if it will even have the chance of passing. The government has assumed that it would likely help over 30 million borrowers and save families an average of $400 per month on their monthly mortgage payments, that could add up to $35-70 billion in savings yearly.
HARP 3.0 MYREFI (Recommended Possible Future Program)
HARP refinance loan application form requests are being handled now. You can click here to get started and to check your HARP mortgage eligibility. The fast application only takes a few minutes with zero personal data 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?