San Fransisco, CA -- (SBWIRE) -- 11/23/2012 -- In 2008, the real estate bubble popped and house prices fell throughout the United States. As a result, many homeowners were left “underwater”, which means they owed more money on their home mortgage than what their house was currently worth.
This was a problem that caused many homeowners to struggle to make ends meet. Combined with a poor economic environment and weak job prospects, homeowners were suddenly left owing hundreds of thousands of dollars to the bank when they only owned assets worth a fraction of that amount.
That’s why the federal government created the Home Affordable Refinance Program (HARP), which seeks to provide underwater homeowners with an easy method of refinancing. But like all government programs, HARP can seem complex. One site, USHARPProgram.com, has gained attention from homeowners for explaining in simple terms the HARP program.
USHARPProgram.com features a brief but detailed description of the complexities of the HARP program. However, unlike the complex language used by the United States government in describing the program, the USHARPProgram.com website explains it in a down-to-earth way using plain English. Anybody can use USHARPProgram.com to determine whether or not they’re eligible for government-assisted refinancing packages.
The website explains all the most important aspects of the U.S. HARP Program. There is a description of why the HARP program was necessary following the economic crisis of 2008, as well as the specific type of assistance homeowners can expect from HARP.
A spokesperson for the USHARPProgram.com website explained how HARP can help homeowners across the United States:
“HARP is designed to help the average American. Any homeowner who is up-to-date on mortgage payments is eligible, provided their home is currently worth less than the amount remaining on their mortgage. Once homeowners determine their eligibility, they can talk to their bank to begin the refinancing process.”
The bank and US government work in conjunction to provide the best possible refinancing solution to homeowners. Refinancing can involve securing a lower interest rate and lower monthly payments, both of which can have a significant impact on a homeowner’s long-term financial future.
Currently, the U.S. government has released HARP Program 1.0 and harp 2.0 program, both of which were designed to help underwater homeowners in the aftermath of the 2008 economic crisis. But a new proposal called HARP 3.0 could be in the works, which means many homeowners face renewed hope for the future:
“HARP 3.0 will help U.S. homeowners continue to receive the government support they need in order to remain in their homes. And our website is proud to show American homeowners exactly how all levels of the HARP program work in an easy-to-understand way.”
USHARPProgram.com provides information about the U.S. government’s Home Affordable Refinance Program, or HARP. The website helps visitors determine eligibility for HARP and begin the refinancing process in order to secure lower interest rates and more affordable monthly payments. For more information, please visit: http://www.usharpprogram.com
Copyright © 2005-2013 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-593-5640 (International)