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Home Affordable Refinance Program Gets a Makeover
In the spring of 2009, the Obama administration unveiled the Home Affordable Refinance Program, or HARP. HARP's objective was to help make mortgage payments more affordable for homeowners who have insufficient, or negative equity, by allowing them to refinance their loans, providing that certain requirements were met. The administration had hoped he program would aid over 5 million homeowners -- to date, it's helped approximately 894,000 borrowers. Critics have charged that the program was...
From: Cambridge Credit Counseling Corp.
Related topics : home equity refinance harp / refinance mortgage home equity loan
HARP 2.0 Guidelines - Michigan Home Refinance
http://www.FirstCommerceFinancial.com
The 2011 HARP guidelines have been released! Here are the key points: Current LTV(loan-to-value) cap of 125% lifted. Appraised value will not matter! The current price adjustments based on equity (or lack thereof) will be reduced or even eliminated. Really helpful for those far underwater or with a 2nd Mortgage. Loan amount less than 125% LTV -- Refinance after 12/1/11 Loan amount greater than 125% LTV -- Still waiting on guidance from lenders. ...
From: FirstCommerce
Related topics : refinance mortgage home equity loan
How to Avoid Mortgage Insurance
How to Avoid Mortgage Insurance
Typically, if you buy a house with a down payment of less than 20 percent of the home's value, or refinance with less than 20 percent equity, the lender will require you to purchase private mortgage insurance, or PMI, which protects the lender in the event you fail to make your mortgage payments. PMI is expensive, and once you start paying it, you can't cancel it until your loan balance is 80 percent or less of the home's value. In addition, changes to IRS rules...
From: 855HowTO
Related topics : refinance home loan mortgage insurance / refinance mortgage home equity loan
VA Loan Myth: Any Lender Can Service a VA Loan
VA borrower Marcia, a U.S. Air Force veteran who now works as a doctor, tries for 4 months to get a VA refinance loan with another big lender with no results. Frustrated, she contacts iFreedom Direct® VA loan professional Jared to explore other options. Jared is able to get Marcia's VA loan approved in just two days after her initial contact. And, after just two weeks, Jared and Marcia attend the closing of her VA cash-out refinance loan. With her new VA-backed mortgage, Marcia saves more...
From: iFreedomCorp
Related topics : mortgage va loan / home equity loan refinance cash out / direct loan lenders
Can I Refinance? I have no Equity - Send this to your family and friends.
Here is your government bailout. Three years ago home values were higher but so were interest rates. Today's rates are in the low 5s and high 4s. Thanks to the "Making Home Affordable Plan" homeowners who have loans backed by Fannie Mae or Freddie Mac may be able to refinance even if their home has lost value. You won't have mortgage insurance if your original mortgage didn't have mortgage insurnace.
Call me today and I can teach you how.
From: Blake Bench
Related topics : refinance home loan mortgage insurance / interest rate home equity loan
Carolina Mortgage Specialist
Preferred Choice Mortgage Company from North Carolina and South Carolina is helping the community one family at a time. This a new promotional piece based around home décor and the individuality of owning your own home. If you are looking for a mortgage in North Carolina or South Carolina asks one of our loan specialists how they can save you time and money. Today you may be able to stop renting and start building equity in a home of your own. We have three locations for your convince in...
From: PreferredChoice
Related topics : north carolina home equity loan rates / south carolina home equity loans / new north carolina homes / refinance home mortgage loan rate
North Carolina and South Carolina Mortgage Company
Preferred Choice Mortgage Company from North Carolina and South Carolina is helping the community one family at a time. This is the 1st and last frame of a new promotional piece based around home décor and the individuality of owning your own home. If you are looking for a mortgage in North Carolina or South Carolina asks one of our loan specialists how they can save you time and money. Today you may be able to stop renting and start building equity in a home of your own. We have three...
From: PreferredChoice
Related topics : north carolina home equity loan rates / south carolina home equity loans / new north carolina homes / refinance home mortgage loan rate