The Home Affordable Refinance Program (HARP) loan lets many homeowners in Liberty County to re-finance their underwater homes when it was previously unattainable. If you are one of the several who qualify for the newest HARP refinancing program, FiveStarsMortgage.com will help you to efficiently help you with the home loan. Call 800-871-2636 or fill out this HARP Information Request to get going toward a lower interest rate immediately.
HARP Refinance Historical Background, Eligibility Guidelines, and Changes
The Making Home Affordable Program, which was created and launched in 2009, allows a great number of homeowners who were previously struggling to refinance their home loan. Caused by all round declines in the economy and property value decline, home owners were stuck having to pay more than they could afford on homes. Among the largest benefits of the program was the development of the Home Affordable Refinance Program, or HARP. Utilizing this new mortgage refinancing program, eligible residents of Telogia, FL with HARP Refinancing could get a decreased payment on their mortgage loan and help you save thousands of dollars in the long term.
The HARP process is for home owners with Freddie Mac or Fannie Mae backed mortgages which have a loan-to-value (LTV) ratio of more than 80% on the mortgage. Because home mortgages that have an LTV of more than 80% are often not able to qualify for traditional mortgage refinancing options, the HARP program was needed to permit as many people as possible to begin spending less on their mortgage payments. As credit seekers needs have changed since the program was implemented, the HARP program has also been through some variations to enable greater flexibility for approval. At present, the HARP program offered is identified as HARP 2.0 and provides more flexible qualification specifications. Below is a summary of the history and continuing growth of the HARP refinancing program:
HARP 1 (Original HARP Home refinance)
The HARP 2.0 mortgage refinance loan program is providing major relief for Telogia home owners that were not able to refinance their home in the past on account of dropping house values. The latest version of the Home Affordable Refinance Program (HARP 2.0) has now been released. This new version of HARP allows unrestricted loan to value, which is the most vital change. This means no more limitations on how much a home owner owes on their home vs. how much their home is currently worth. Florida home-owners upside-down or underwater on their mortgage will now get some assistance. Also, there are less restrictive credit regulations set up. Most of the so called government relief home refinance programs in the last several years have fallen short of honestly assisting homeowners to refinance their mortgage to a lower rate of interest. The current rendition of the HARP mortgage program (2.0) provides the relief many Telogia homeowners have deparately needed for such a long time. No matter what who your actual loan servicing company is (Wells Fargo, Bank of America, Chase, Citi, etc) we can help you so long as your mortgage loan is at present Fannie Mae or Freddie Mac backed.
HARP 3 is still a hypothetical scenario and all of the information discussed is simply hypothesis. The details of the program are based on what is currently being outlined but it is unknown what the final program will give you or if it will even pass through Government red tape. The government has assumed that it would likely help over 20 million borrowers and save home-owners an average of $400 per month on their monthly payments, that would total $35-70 billion in cost savings yearly.
HARP 3.0 MYREFI (Suggested Potential Program)
HARP refinance loan application form requests are being accepted now. You can click here to get started and to check your HARP loan eligibility. The fast application form only takes a moment without any personal details 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?