Borrowers Who Are Thinking About Refinancing Their Homes Through HARP 2.0 Should Familiarize Themselves With HARP 2.0 Refinance Guidelines To Be Able To Secure An Affordable Loan Plan
New York, NY -- (SBWIRE) -- 09/05/2013 -- Homeowners have a tough choice when an additional responsibility crops up with the mortgage responsibility. Responsible borrowers prefer being regular with a mortgage. This can lead to unsatisfactory search for an affordable loan. At present the good news is that, homeowners actually have the opportunity of being a little less tough on oneself. Refinancing through the HARP 2.0 mortgage refinance loan program can help one in several ways. Cash out refinancing is possible. Refinancing for low cost mortgage with less monthly payment amount is possible. A suitable refinance plan can therefore save the situation.
Get Refinance Home With HARP 2.0 Mortgage Refinance
The U.S administration expects homeowners to not only hold on to their homes, but also to benefit financially from the various programs that have been put in place in lieu of the housing crisis. The HARP 2.0 mortgage refinance loan program is one such program which serves the purpose of providing refinance solutions to homeowners who are stuck with expensive or underwater mortgages. It helps homeowners to secure a new, more affordable and more safe mortgage. Lenders weren’t keen to refinance on underwater mortgages before the arrival of this program. The availability of this plan has now been extended till December 2015. Earlier, the plan was meant to be effective till 2013. There are many benefits to saving a sizeable amount, every month, through lowered mortgage payments. HARP, a module of Making Home Available(MHA) program can definitely help get that loan plan. However take a look at HARP 2.0 refinance guidelines.
Mortgage should be owned or guaranteed by Freddie Mac or Fannie Mae.
Mortgage should have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.
Mortgage should not have been refinanced under HARP previously, unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.
People must be regular on mortgage payments, at the time of the refinance, and should be able to show a good payment history of past 12 months
Person should also be aware that to refinance under HARP 2.0 Program, a loan application and underwriting process is required. Also remember that refinance fees will apply, for the same.
Websites giving information on mortgage financing usually have the benefit of good advice from their inhouse, competent specialists. Readers are welcome to know more from one such reliable site, http://www.mortgage-refinanceprograms.com
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