Posts Tagged "125%"

HARP 2 Mortgage Update: 125% LTV Refinances Pick Up

on May 1, 2016 in HARP Refinance | Comments Off on HARP 2 Mortgage Update: 125% LTV Refinances Pick Up

HARP 2 Mortgage Update: 125% LTV Refinances Pick Up The Home Affordable Refinance Program (HARP) is a government refinance program meant to help homeowners whose homes have lost value since purchase. HARP was initially launched in 2009 as part of the Making Home Affordable initiative, a program … For more informaiton please visit here… HARP 2 Mortgage Update: 125% LTV Refinances Pick...

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HARP 2.0 : Underwater Homeowners Need Fewer Loans Over 125% LTV

on Apr 26, 2014 in HARP Refinance | Comments Off on HARP 2.0 : Underwater Homeowners Need Fewer Loans Over 125% LTV

HARP 2.0 : Underwater Homeowners Need Fewer Loans Over 125% LTV In late-2011, the Home Affordable Refinance Program (HARP) was made available to U.S. homeowners whose mortgages were "severely underwater". The program was a hit. At its peak, HARP loans for which loan-to-value (LTV) exceeded 125% accounted … More informaiton please visit here… Maryland Man Sentenced to Jail in Million Loan Mod Scheme Also according to court documents, the conspirators misrepresented that, with HOPE's assistance, the homeowner was guaranteed to receive a loan modification under the Home Affordable Modification Program (HAMP), which is part of the Troubled Asset … If you would like more informaiton please visit here… Quinn promotes Welcome Home Illinois Program CHICAGO – Governor Pat Quinn Tuesday addressed the annual Illinois Governor's Conference on Affordable Housing where he discussed the state's commitment to affordable homeownership and the new Welcome Home Illinois loan program for first-time … More informaiton please visit here… HARP 2.0 : Underwater Homeowners Need Fewer Loans Over 125%...

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Freddy Mac or Fannie Mae for HARP 125% refinance?

on Oct 31, 2012 in HARP Refinance | Comments Off on Freddy Mac or Fannie Mae for HARP 125% refinance?

Question by John 927: Freddy Mac or Fannie Mae for HARP 125% refinance? I am trying to refinance and I’m asking mortgage brokers/lenders the following question: “What will happen if my home appraisal comes in ‘underwater,’ as in below the amount of my loan?” Some tell me no problem, my FREDDY MAC loan is eligible for HARP refinance program. Others tell me that they wouldn’t be able to help because I’m not a Fannie Mae loan. Is this a broker/lender decision or does HARP really exclude Freddy Mac loans? In other words, is HARP only applicable to Fannie Mae loans in terms of the 125% loan to value rules? So confused. Best answer: Answer by BobThe HARP program is available for both FHLMC and FNMA loans, but not every lender can do both. If your appraisal determines you require a HARP loan, since your current loan is owned by Freddy it can only be done by a lender that can do Freddy loans. It should not be hard to find one. Your current lender is probably one of them. I closed a HARP refinance loan for a friend a few months ago after his current lender had denied him based on a 90% LTV appraisal, even though that lender’s website advertises HARP loans. I was happy for the business but it never should have come that far. Apparently his loan officer was not familiar with the program. Any time human beings are involved you can’t always trust the first answer you get. Know better? Leave your own answer in the comments! Freddy Mac or Fannie Mae for HARP 125%...

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HARP 2.0 is the fastest growing segment: loan-to-values ​​above 125%

on Aug 22, 2012 in HARP Refinance | 2 comments

HARP 2.0 is the fastest growing segment: loan-to-values ​​above 125% HARP is an acronym. It stands for Home Affordable Refinancing Program. Sometimes the Obama refi was created in 2009 as part of this year’s stimulus package. At the time, mortgage rates had been declining, but so had home values. If you want more informaiton please visit here … pondering refinance Here According to the latest reports, a full third of all homeowners are refinancing, below the Home Affordable Refinancing Program (HARP), because they do not have enough equity to refinance their homes to be different. Although you can buy, a … If you want more informaiton please visit here … HARP 2.0 is the fastest growing segment: loan-to-values ​​above...

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Determine if you qualify for HARP 2.0 to Refinance Your California Real Estate Loan up to 125% of Property Value

on May 4, 2012 in HARP Refinance | 42 comments

Determine if you qualify for HARP 2.0 to Refinance Your California Real Estate Loan up to 125% of Property Value

by Alan Vernon. Determine if you qualify for HARP 2.0 to Refinance Your California Real Estate Loan up to 125% of Property Value Article by Greg Rosenstein The federal government has released HARP 2.0 this week. This is their second attempt at helping homeowners that are upside-down in their properties by expanding the guideline to allow borrowers to refinance up to 125% of their property value. I think the first thing a homeowners should do is determine is they qualify not by reading the guidelines that I’ve set here. I have tried to communicate them as clearly as possible here. If you find that you are eligible according to these guidelines or have questions about them you should contact me. Here are the major guidelines and requirements of the program.• You loan is owned by Fannie Mae and was delivered to them before June 1, 2009• 680 credit score or better• No 30-day late payments on mortgage in the last 12 months• 48 months since last Bankruptcy discharge • Primary residence eligible only• Eligible property types are single-family homes, PUDs, and condos. 2 to 4 unit properties are not eligible. If you meet these guidelines you may qualify to refinance your mortgage at up to 125% of your property value. Unlike normal circumstances, you would be able to refinance with little or no equity. If you’re unsure whether your California real estate loan is more or less then 125% of your property value then I would get in touch with myself through e-mail or phone as I can make the calculations and present to you whether there would be an individual benefit or not. Regarding whether your refinance will need an appraisal or not is determined by some called a property inspection waiver. This may be granted on your property depending on specific details which I can determine. I think we all realize that 125% of property value will only cover a small percentage of homeowners that need this help. If you’re on the borderline or not sure about the percentage I would definitely get in touch with me. I can instantly make an accurate determination and many may be surprised. If you take your home value and divide it by 4, you can add that amount onto your home value to determine how much you can borrow. I can help pay some or all of the closing costs to keep the loan under the maximum if necessary. The HARP 2.0 California real estate loan program is fairly simple and if you qualify, it can help lower your interest rate to as low as 4% and also convert an adjustable rate to a fixed rate. Take advantage of this if you can. Please contact me with any questions , with any comments, or to be qualified. My Homepage: http://www.SanFranciscoMortgageBanker.com Greg RosensteinBluFi Lending CorporationSenior Mortgage BankerOffice: 925-233-4490 x-1732Cell: 561-283-9865Fax: 888-650-3377E-Mail: Greg.Rosenstein@Blufi.net http://sanfranciscomortgagebanker.com/california-real-estate-loan-harp-2-0/ About the Author Greg Rosenstein is the San Francisco Mortgage Banker. He is licensed to make mortgage loans in the state of California and works for BluFi Lending. If you would like more informaiton please visit here… Determine if you qualify for HARP 2.0 to Refinance Your California Real Estate Loan up to 125% of Property...

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