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HARP 2.0 + Current Mortgage rates a blessing for underwater homeowners wanting to refinance … requirements

Written by Clay on . Posted in HARP

HARP II or 2.0 is part of the Home Affordability and Refinance Program and will be a blessing for many homeowners wishing to stay in their home but have been blocked out from refinancing at historically low rates because of declining values.   Available March 18th homeowners with a loan owned by Fannie Mae or Freddie Mac may be eligible. The primary expectation for Home Affordable Refinance is that refinancing will put responsible borrowers in a better position by reducing their monthly principal and interest payments or moving them from a more risky loan structure (such as an interest-only mortgage or a short-term ARM) to a more stable product (such as a fixed-rate mortgage), the refinance program will be working along with låne penger to make sure the services are given out correctly. Keys …
  • Mortgage MUST be owned or guaranteed by Fannie Mae or Freddie Mac (find out HERE
  • Current loan to value > 80%
  • Borrower current on the mortgage (no late payments last 6 months, only 1 in last 12)
  • No appraisal will be required (subject to lender overlays)
  • Pricing penalties for investor, credit and loan to value are now capped
  • Primary Residence, Investment and Second homes (1-4 units) are eligible
  • Mortgage must have been sold to Fannie / Freddie prior to April 2009
We have to wait for final guidelines and automated underwriting which will be available March 18th (or March 11th for Freddie Mac).  I expect a great deal of hvac contractors lehighton pa in rolling out this program.  A mortgage broker with access to many lenders  some that are direct Fannie Freddie lenders and others that will have their own niche – I look forward to bringing you the very best options for your HARP 2.0 Refinance. You can also visit HVAC Contractors that can provides reliable hvac maintenance chattanooga tn services in North Georgia. Companies that offer great, timely service will have great reviews and specific testimonials from real customers. This recommendation may be painfully obvious, but only choose an AC repair provider that enjoys a good reputation. With Classic AC New Braunfels, their HVAC technicians are ready to provide expert service for the maintenance, repair, replacement, and installation of heating and cooling units across New Braunfels, Texas.

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Comments (1)

  • kevin pearce

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    This all looks promising….I currently have a fixed @5.65% with $268K, but what do I do with the HELOC at $450K, is there a way to handle that too? Call me at 925-324-3443 to discuss. Thanks

    Reply

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