The Home Affordable Refinance Program (HARP) loan would allow countless homeowners in Nassau County to re-finance their under water homes when it was previously out of the question. If you are one of the numerous who qualify for the latest HARP loan refinancing program, FiveStarsMortgage.com can help you to quickly be of assistance to you with the 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 Enhancements
The Making Home Affordable Program, first created and launched in late 2009, helps numerous homeowners who were previously helpless to get refinancing for their home loan. A consequence of common decreases throughout the market and home values, homeowners were having problems having to pay more than they could afford on homes. Among the best benefits of the program was the development of the Home Affordable Refinance Program, or HARP. With this new loan refinancing program, eligible home owners of Yulee, FL with HARP Refinancing can usually get a reduced payment on their home and help you save thousands of dollars over the years.
The HARP system is for home owners with Freddie Mac or Fannie Mae backed home loans who have a loan-to-value (LTV) ratio of more than 80% on their mortgage. Because mortgage loans with an LTV of over 80% are often not in a position to qualify for common mortgage refinancing options, the HARP program was needed to let as many people as possible to start spending less on their payments. As borrowers demands have changed since the program was implemented, the HARP program has additionally been subject to quite a few changes to allow for increased flexibility for approval. At this time, the HARP program provided is labeled HARP 2.0 and provides more flexible qualification standards. This is the breakdown of the background and development of the HARP refinancing program:
HARP 1 (Original HARP Home refinance)
The HARP 2.0 mortgage refinance loan process gives major assistance for Yulee, FL home owners that could not refinance in the past because of falling home values. The latest 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 essential alteration. This indicates no more restrictions on how much a homeowner currently owes on their mortgage loan vs. how much money their home is currently worth. Yulee, FL homeowners upside down or under water in their home loan can have some relief. The best part is, there are also a lot less restrictive credit regulations in place. Most of the so called government backed refinance programs in the last several years have fallen short of honestly supporting home-owners to refinance their home mortgage to a lower rate of interest. The latest edition of the HARP mortgage program (2.0) offers the help many Yulee, FL home-owners have deparately needed for such a long time. Regardless of who your loan servicer is (Bank of America, Wells Fargo, Chase, Citi, etc) we can provide assistance as long as your mortgage is currently Fannie Mae or Freddie Mac backed.
HARP 3 is still a hypothetical scenario and all of the information discussed is simply speculation. The facts of the program are derived from what is increasingly being spoken about but it is unknown what the finished program will provide or if it will even pass through Government red tape. The federal government has assumed that it would probably help over 30 million borrowers and save homeowners an average of $300 a month on their monthly payments, which might add to $35-70 billion in savings yearly.
HARP 3.0 My Refi (Recommended Possible Future Program)
HARP refinance home loan application form requests are being accepted now. You can click here to get started and to check your HARP mortgage loan eligibility. The fast application form only takes a moment and no personal data ever required. You can also call 800-871-2636 7 days a week.
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