The Obama Administration is updating it’s refinance programs that were meant to help people who had mortgage payments higher than they could afford. With the update, these folks might be able to now refinance to lower payments!!
The problem, for most folks, was that they didn’t have enough equity in their home to qualify for a refinance. Because of that, Fannie Mae and Freddie Mac will offer the NEXT phase of the refinance program, called HARP 2.0 later this month… and best of all, the program will be offered by many more mortgage companies (like ours) , so you can be sure you get the best rate and the best closing cost scenario available!
With the NEW HARP 2.0 refinance program, you might be able to refinance even if you owe more on your home than it’s worth! The program allows for loan to value ratios over 125% – and in some cases, the program requires NO appraisal, and, depending upon your situation – might not require us to verify your income! [Read more...]