Tuesday, July 25, 2017
HARP Loan for Underwater Mortgages
|If you owe more on your mortgage than your home's value, you may have options under the HARP.|
Freddie Mac and Fannie Mae have adopted changes to the Home Affordable Refinance Program (HARP), and you may be eligible to take advantage of these changes.
· Simple Refi Loan Process
· Above 125% Loan to Value Now OK!
· Less Restrictive Qualifying Requirements
· All Occupancies & Property Types
What Is The HARP Program?
Recent updates to HARP 2.0 went into effect in early 2012 that expanded the HARP refinance program's guidelines to reach Portland, Oregon and Vancouver, Washington homeowners who owe more than 125% of their property's value.
Fannie Mae and Freddie Mac have over 4 million loans that fit that criteria. Removing the road blocks many of these homeowners have faced in the past will make it easier for millions of people to save money on their monthly mortgage payments, as well as refinancing into a more stable loan.
If this is a loan you need to take advantage of: Start Your Loan Application or Contact Me to discuss it.
Borrowers with FHA and VA loans may be eligible for an underwater mortgage refinance as well. Contact me to find out what the most recent loan options are for an FHA streamline refinance or a VA streamline refinance home loan.
The HARP 3.0 program is still being discussed in Congress. Check the latest news regarding HARP 3.0.