By now most have heard about HARP 2.0 (the re-work of the previously released Home Affordable Refinance Program). If not, then see my previous posts covering HARP 2.0 and the BENEFITS OF HARP 2.0 for a quick glimpse at the popular refinance program. As many of you know, if your current mortgage is not insured/owned by […]
BENEFITS OF HARP 2.0 REFINANCE?
The hot topic in the mortgage world over the last 2-3 weeks has been HARP 2.0. Clients calling about it, lenders emailing about it, loan officers looking for homeowners who qualify. See my earlier post detailing WHAT IS HARP 2.0 So what are the benefits of a HARP 2.0 refinance? Allows homeowners who are underwater […]
DON’T QUALIFY FOR HARP 2.0? HELP MAY BE ON ITS WAY
UPDATED: 4/24 (see below) The new HARP 2.0 Program officially rolled out this past week for those homeowners who have a mortgage insured by Fannie Mae / Freddie Mac. Click Here for HARP 2.0 Info But what about homeowners whose mortgage isn’t insured/owned by Fannie Mae, Freddie Mac, FHA, VA, USDA? Up until now, you […]
WHAT IS HARP 2.0?
HARP (Home Affordable Refinance Program) began in April 2009. You may have heard to it referred to as the Making Home Affordable Program, the Obama Refinance Plan or Relief Refinance Program. You are eligible for a HARP refinance if: Your current loan is owned/insured by Fannie Mae or Freddie Mac. Your current loan was purchased/insured […]
New Government Mortgage Programs, Good Idea?
President Obama has been making news recently in the housing industry. He has made comments on making FHA Streamline Refinances more accessible, and Wednesday morning the White House released some details on the President’s latest refinance plan. Minimum credit score of 580, and loan to value ratio (loan amount compared to the homes value) of […]
OHIO RESIDENTS, GET READY FOR MORTGAGE COSTS TO GO UP
The payroll tax cut extension that Congress agreed to extend on December 23rd will have far reaching implications. One of those implications is increasing the cost of a mortgage for those of us in Ohio and across the country. The loan guarantee fee paid by Fannie Mae and Freddie Mac will increase by 10 BPS […]
Can HARP help Ohio Homeowners?
First off, what is HARP? It stands for Home Affordable Refinance Program, and was designed to help homeowners who have been unable to obtain traditional refinancing because the value of their home has declined. So who offers HARP? The majority of lenders offer HARP loans, although each lender will differ in their guidelines. How can […]
Is Your Mortgage Underwater in Ohio?
60 Minutes aired a segment Sunday night covering Cleveland, OH and its foreclosure situation. You can see the story here THERE GOES THE NEIGHBORHOOD Many homeowners in Ohio have seen their homes value decline by up to 50% over the last couple of years. Continuing to pay a mortgage on a home that is now […]
