Sunday, November 1, 2009

HARP (Home Affordable Refinance Program)


You may or may not have heard of a refinance program that has been released a few months back formally known as the Home Affordable Refinance Program, HARP. I have found this to be a great program for people that have purchased their home within the last few years and now owe more than what their home is worth.

Here are some of the key advantages of the HARP program:

* Home must be owner occupied
* Property can be 1 to 4 units for a primary residence
* Current mortgage loan must be owned Fannie Mae or Freddie Mac
* Mortgage must be paid current and up-to-date
* Loan-to-value (LTV) can be no more than 125%



With rates being at an all time record low, this is a great opportunity for homeowners to get into a low fixed-rate mortgage! In some cases an appraisal may not even be required, and credit scores may not even play a role in the loan approval process!

You can find out if Fannie Mae or Freddie Mac owns your loan by going to their website or just go to my website and I will look it up for you, and check if you qualify for other programs to save you money and lower your over all monthly payments.

Go to: http://www.wfhm.com/charles-roberts

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