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Learn About Obama's Refinance Proposal for HARP 3.0 Plan

There is a lot of talk about Obama’s mortgage refinance proposal for the HARP 3.0 plan.

 
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Madison, WI -- (SBWIRE) -- 08/07/2012 -- Mortgage servicers have even started promoting the hashtag #MyRefi on Twitter as well as Google Plus to expand the reach of revamped HARP 2.0 guidelines to its further revamped version. You may get started to determine your eligibility for the same.

Mortgage servicers are now promoting the HARP 3.0 program which is slated to benefit an additional 7 million borrowers in the country. Eligible homeowners could be able to refinance their home even if they are underwater on their mortgages save almost $3,000 every year on mortgage payments. Lenders are using the social media for creating awareness among homeowners regarding the benefits of refinancing using the hashtag #MyRefi plan as it is being popularly known. In any case, if applicants can qualify for the new schedule which is being proposed, they could take advantage of a quick and hassle free home refinancing process and thus, take advantage of low interest rates for reducing their monthly payments.

Highlights of the proposed HARP re-revamp

Homeowners, who meet HARP 3.0 guidelines, could be in a position to secure the below mentioned benefits.

There is a proposal to expand HARP 2.0 eligibility criteria to allow borrowers to refinance at lower rates of interests.

The new home mortgage refinance plan may help homemakers to build equity in their homes which have lost values.

Borrowers, if eligible, will be able to retain their homes for a long time to come and save money with reduced payments.

Mortgage conducts by lenders will be investigated and homeowners’ rights will be protected while home is refinanced.

Qualify Today For Obama's New Mortgage Refinance Plan

Qualifying for the Obama mortgage refinance plan in any of its variants has never been easy. This is because applicants are required to navigate through a rigorous application process which is both complex and extremely time consuming. The qualification criteria are difficult to understand and interpret and the procedure requires borrowers to prepare and furnish correct as well as accurate documentation along with their HARP requests. Many HARP applications have been denied in the past just due to submission of improper or incorrect documents. You need to be a little bit careful when you prepare it.

Some agencies on the internet provide online assistance to learn how to qualify for HARP 3.0 program. Such firms employ mortgage professionals who are well versed with the re-revamped HARP eligibility guidelines and process requirements. As a result, when you seek their help, you will be helped to get connected to a local mortgage expert who will then assist you to navigate through the HARP procedure with ease. This will enable you to save a lot of time, money as well as energy in getting your mortgage refinance loan application approved. However, make sure you have chosen a reputed service.

It is hereby recommended to visit reputable online mortgage service providers like LoansStore.com to secure more valuable information regarding HARP qualification and process.