Real estate crisis and increasing economic upheaval have played havoc in leaving tens of thousands of homeowners incapable of affording their existing mortgage payments in U.S. Also, foreclosure crisis have led to fallen home values which further adversely affected these homeowners who are not even able to refinance their underwater mortgages. Such homeowners or borrowers now should start looking for an alternative to foreclosure; they can consider applying for new home affordable refinance program 2.0. Here is what you must know about HARP 2.0
Apply Here To Get Refinance Your Home With Obama’s New Home Affordable Refinance Program 2.0 http://www.mortgage-refinanceprograms.com/refinance-appli...
Home Affordable Refinance Program HARP was originally rolled out in 2009; but its first incarnation saw many homeowners excluded due to some stringent approval criteria. However, this restriction was removed to a great extent with revamped new home affordable refinance program 2.0 guidelines for eligibility. If you are not behind on your mortgage payments but cannot get traditional refinancing due to declined value of your home, you could be eligible to refinance your mortgage through HARP 2.0. Under new home affordable refinance program 2.0guidelines, you may successfully refinance mortgage no matter how far underwater your mortgage can be. Also, certain risk-based fees could be eliminated under HARP 2.0.
No Appraisal Required On Obama’s New Home Affordable Refinance Program 2.0 http://www.mortgage-refinanceprograms.com/harp-2.0.php
In order to qualify for new home affordable refinance program 2.0,
1. The mortgage should be owned or guaranteed by Freddie Mac or Fannie Mae.
2. The mortgage must nr sold to Fannie Mae or Freddie Mac on or before May 31, 2009.
3. Mortgage cannot have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.
4. The current loan-to-value (LTV) ratio must be above 80%.
5. The borrower must be current on the mortgage at the time of the refinance, with a good payment history during the past 12 months.
Prior to applying for new home affordable refinance program 2.0, it is advisable to be well-versed with such qualification standards that must be met. Additionally, one must also get a detailed understanding of HARP process requirements, documentation requirement, if any, and fees that may apply. Also, when it comes to finding the right alternative to foreclosure, one must make sure to take an informed and educated decision. For this, mortgage specialist’s help is required. A competent and knowledgeable mortgage specialist will not only enhance your knowledge on new home affordable refinance program 2.0 guidelines but will also help you identify if this program will serve you best. You can easily approach such a reliable specialist through free professional help of an online mortgage service provider firm, preferably a reputable and reliable one.
