The Home Affordable Refinance Program (HARP) loan will permit a great number of home-owners in Palm Beach County to re-finance their under water homes where it was previously unattainable. If you are one of many who qualify for the latest HARP refinance program, FiveStarsMortgage.com can help you to swiftly help out in your loan. Call 800-871-2636 or fill out this HARP Information Request to get started toward a lower interest rate immediately.
HARP Refinance Qualifications, Plan Guidelines, and Enhancements
The Making Home Affordable Program, which was created and initiated in late 2009, enables many homeowners who were previously unable to get refinancing for their home loan. As a consequence of overall declines throughout the market and home value decline, homeowners were having difficulty spending more than they can afford on their homes. Amongst the largest benefits of the program was the roll-out of the Home Affordable Refinance Program, or HARP. Utilizing this type of new refinancing program, eligible residents of West Palm Beach, FL with HARP Refinancing can get a smaller payment on their home loan and help save thousands of dollars in the long term.
The HARP process is for home-owners with Freddie Mac or Fannie Mae backed home mortgages which have a loan-to-value (LTV) ratio in excess of 80% on the mortgage loan. Because mortgages that have an LTV more than 80% are often not in a position to qualify for traditional loan refinancing options, the HARP program was needed to permit as many people as possible to start saving money on their payments. As borrowers expectations have changed since the program began, the HARP program has also been through some adjustments to allow more flexibility for approval. At this time, the HARP program provided is often called HARP 2.0 and gives more flexible qualification conditions. This is the breakdown of the background and continuing growth of the HARP loan refinancing program:
HARP 1 (Original HARP Refinance)
The HARP 2.0 mortgage refinance loan process is providing major assistance for West Palm Beach home owners that could not refinance in the past caused by reducing 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 significant alteration. This simply means no more limitations on how much a home owner currently owes on their home verses how much money their property is currently worth. West Palm Beach homeowners upside down or under water in their mortgage will now have some relief. The best part is, there are also a reduced amount of restricted credit guidelines set up. Most of the so called government refinance loan programs in the past have fallen short of honestly helping home owners to refinance their home loan to a lower rate of interest. The latest rendition of the HARP mortgage program (2.0) offers the relief many West Palm Beach, FL property owners have deparately needed for way too long. Whatever who your loan servicer is (Citi, Chase, Wells Fargo, Bank of America, etc) we are able to help so long as your mortgage loan is presently Fannie Mae or Freddie Mac backed.
HARP 3.0 is still a hypothetical scenario and all of the information provided is speculation. The details of the program are based upon what is currently being spoken about but it is unknown what the finished program may offer or if it will even pass. The federal government has assumed that it would likely help over 20 million borrowers and save home-owners an average of $400 a month on their monthly mortgage payments, that can add up to $35-70 billion in financial benefits each and every year.
HARP 3.0 My Refi (Suggested Future Program)
HARP refinance home loan application requests are being handled now. You can click here to get started and to check your HARP mortgage loan eligibility. The short application only takes one minute with no personal details ever required. You can also call 800-871-2636 7 days a week.
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