Worthington, OH -- (SBWIRE) -- 10/21/2013 -- Investors, this press release could increase your cash flow on your rental properties. Have you been turned down for a refinance before because you were upside down or had more than 4 mortgages? The government backed HARP 2.0 refinance program could be the answer to your problem. We have helped investors save hundreds of dollars, even if they had up to 10 mortgages. You may be able to take advantage of the lower HARP rates, even if you have PMI currently. We are able to transfer PMI from the current loan to the new loan in most cases. Most HARP 2.0 loans do not require an appraisal which saves money on closing costs.
We recently helped a client who had 8 mortgages refinance her 3 eligible properties, saving her almost $600 per month. And, she had mortgage insurance on two of them that we were able to transfer to the new mortgages. It is easy to find out if your mortgages qualify, call me at 614.388.8757.
What is the HARP 2.0 Program
The original modified HARP program - HARP 2.0, also referred to as The Making Home Affordable Program, the DU Refi Plus Program, and/or the Obama Refi Program - is specifically targeted towards Ohio homeowners having a loan-to-value ratio less than 125 percent. However, an additional guideline change to HARP 2.0 actually lifted the loan-to-value restrictions. So, Ohio borrowers, even real estate investors, can now refinance under this program.
HARP 2.0 gives Ohio homeowners the ability to refinance at today's low mortgage rates without exorbitant closing costs and fees, and in most cases without an appraisal. Wouldn't it be nice to increase your cash flow on your rentals with a lower payment? If you have been turned down before because you had a rental property, you should check again to see if you qualify.
Am I Eligible
Following are some of the eligibility guidelines. Call me at 614.388.8757 to determine your eligibility.
1. Your loan must be backed by Freddie Mac or Fannie Mae
2. Freddie or Fannie should have bought your mortgage prior to June 1st, 2009.
3. Borrowers must be current on their mortgage for the last six months, and have no more than one late payment over the past year.
4. The mortgage must not have already been refinanced through HARP in the past, unless it happens to be a Fannie Mae loan that underwent a HARP refinance between March and May 2009.
5. Must Not be a USDA, FHA, VA or Jumbo Mortgage
Investors, this is your chance to refinance, even if you are upside down. Start increasing your cash flow today. Please call me at 614.388.8757 to check your eligibility.
For more information, go to http://www.HarpLoansInOhio.com