The Home Affordable Refinance Program (HARP) loan allows for a large number of homeowners in Pinellas County to refinance their under water homes where it was previously unattainable. If you are one of the several who qualify for the newest HARP home refinance program, FiveStarsMortgage.com can help you to quickly help you in your mortgage. Call 800-871-2636 or fill out this HARP Information Request to get going toward a lower interest rate immediately.
HARP Refinance History, Eligibility Prerequisites, and Features
The Making Home Affordable Program, which was created and started in late 2009, allows for a large number of home owners who had been previously helpless to get refinancing for their mortgage. By way of complete decreases in the economy and property values, homeowners were having problems having to pay more than they could afford on homes. One of the chief benefits of the program was the development of the Home Affordable Refinance Program, or HARP. With this new mortgage refinancing program, approved residents of Redington Beach, FL with HARP Refinancing can usually get a reduced payment for their home loan and help save thousands of dollars in the long run.
The HARP process is for homeowners with Freddie Mac or Fannie Mae backed home mortgages which have a loan-to-value (LTV) ratio greater than 80% on the mortgage loan. Because mortgages that have an LTV in excess of 80% are often not in a position to qualify for common mortgage refinancing options, the HARP program was needed to permit as many people as possible to begin spending less on their payments. As credit seekers expectations have changed since the program was implemented, the HARP program has also been subject to a number of modifications to permit much more flexibility for acceptance. At present, the HARP program provided is often called HARP 2.0 and provides more flexible qualification prerequisites. Below is a review of the historical past and expansion of the HARP loan refinancing program:
HARP 1 (Original HARP Refinance)
The HARP 2.0 home refinance loan program is providing major assistance for Redington Beach home owners that could not refinance their home in the past on account of diminishing house values. The newest version of the Home Affordable Refinance Program (HARP 2.0) has now been released. This new edition of HARP allows unrestricted LTV, which is the most prominent alteration. This suggests no more limits on how much money a homeowner owes on their home verses how much money their home is currently worth. Redington Beach, FL home-owners upside down or under water with their mortgage will now get some relief. Moreover, there are also a lot less restricted credit regulations in place. Many of the other government relief refinance programs in the past have fallen short of honestly assisting homeowners to refinance their home loan to a lower interest rate. The latest version of the HARP mortgage program (2.0) provides the help many Redington Beach, FL property owners have needed for way too long. No matter what who your current loan servicer is (Wells Fargo, Bank of America, Chase, Citi, etc) we are able to help on condition 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 speculation. The specifics of the program are based on what is increasingly being outlined but it is not known what the finished program will give you or if it will even pass. The government has assumed that it would most likely help over 30 million borrowers and save home-owners an average of $200 a month on payments, which might add to $35-70 billion in savings each and every year.
HARP 3.0 MYREFI (Suggested Potential 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 moment without any personal info ever 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?