The Home Affordable Refinance Program (HARP) loan lets a great number of homeowners in Pasco County to re-finance their underwater homes where it was previously unattainable. If you are among the many who are qualified for the latest HARP loan refinancing program, FiveStarsMortgage.com will help you to easily be of assistance to you in your mortgage loan. 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 Information
The Making Home Affordable Program, first created and initiated in 2009, enables a great number of homeowners who had been previously unable to get refinancing for their mortgage. Through overall declines in the economy and property values, homeowners were having trouble spending more than they could afford on their homes. Among the main benefits of the program was the roll-out of the Home Affordable Refinance Program, or HARP. With this new refinancing approach, approved home owners of Port Richey with HARP Refinancing could possibly get a reduced payment for their mortgage loan and save yourself a lot of money in the long run.
The HARP process is for home owners with Freddie Mac or Fannie Mae backed home mortgages having a loan-to-value (LTV) ratio in excess of 80% on the mortgage loan. Because mortgage loans with an LTV of over 80% are often not in a position to qualify for common refinancing options, the HARP program was necessary to enable as many people as possible to start lowering costs on their monthly payments. As credit seekers demands have changed since the program was implemented, the HARP program has also undergone a number of variations permitting more flexibility for acceptance. Presently, the HARP program available is named HARP 2.0 and gives more flexible qualification prerequisites. This is the review of the history and development of the HARP refinancing program:
HARP 1 (Original HARP Home refinance)
The HARP 2.0 home refinance loan process provides essential relief for Port Richey, FL home owners that were not able to refinance their home in the past as a consequence of shrinking home 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. This means no more limitations on how much money a homeowner owes on their mortgage verses how much money their property is currently worth. Port Richey home owners upside-down or underwater with their mortgage loan can have some assistance. The best part is, there are a lot less restricted credit regulations implemented. Many of the so called government home refinance programs in the past have fallen short of honestly supporting homeowners to refinance their mortgage loan to a lower interest rate. The modern version of the HARP mortgage program (2.0) provides the help many Port Richey, FL home-owners have deparately needed for way too long. Regardless of who your loan servicer is (Citi, Chase, Wells Fargo, Bank of America, etc) we can help you so long as your mortgage is currently Fannie Mae or Freddie Mac backed.
HARP 3 is still a hypothetical scenario and all of the information specified is simply hypothesis. The facts of the program are derived from what is increasingly being discussed but it is unknown what the finished program will offer or if it will even pass through Government red tape. The federal government has assumed that it would likely help over 20 million borrowers and save families an average of $350 a month on their mortgage payments, which might total $35-70 billion in savings each year.
HARP 3 MYREFI (Proposed Future Program)
HARP refinance home loan application requests are being handled now. You can click here to get started and to check your HARP loan eligibility. The quick application only takes one minute with no personal data required. You can also call 800-871-2636 7 days a week.
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