Articles Comments

Debt Relief – Insolvency – Bankruptcy Information » Mortgage Refinancing » Obama’s Home Affordable Refinance Program (HARP 2.0) Explained in Less Than 2 Minutes.

Obama’s Home Affordable Refinance Program (HARP 2.0) Explained in Less Than 2 Minutes.


Obama’s Home Affordable Refinance (HARP) program www.rmilending.com has been revamped. Since there are a few changes to the plan, many homeowners now want to know if they qualify to refinance now. Watch this video to have the home affordable refinance program explained in under 2 minutes. The first thing you should be aware of is that Obama’s HARP program is NOT going to help everyone that is upside down or underwater on their mortgage. One of the main qualifications is that your loan must be owned by Fannie Mae or Freddie Mac and you must have received that loan before June 2009. Now, how do you know if Fannie or Freddie owns your loan? Just give me a call or send me an email and I can look that up for you. If it is owned by them, then it doesn’t matter how far upside down on your mortgage you are, because the loan to value cap has been lifted completely. In addition to that, you won’t need to have an appraisal, and loan fees will be reduced or possibly even eliminated if you are refinancing to a shorter term, like going from a 30 year to a 15 year fixed. It’s important that your last 6 payments have been made on time, and you can’t have more than 1 late payment in the last 12 months. More details and rate pricing from the banks will be revealed around November 15th, and the banks that I work with are expected to start taking loan applications for this program around December 1st. Also, the program will be available through the end of 2013, but there’s no guarantee that

RELATED POSTS:

  1. Home Affordable Refinance Program (HARP) extended for underwater homeowners. The Home affordable refinance program or HARP has been extended for California homeowners who owe up to 105% of...

  2. HARP – Home Affordable Refinance Program In this video I give you the highlights on the governments HARP-Home Affordable Refinance Program ...

  3. How can I take advantage of the HARP program if my mortgage is not owned by FANNIE MAE? My house is underwater. I can afford my payment, but it sure would help if I could refinance to a...

  4. Does the HARP program require one to escrow taxes? We currently do not escrow our taxes and are looking into going into the HARP program. Will we be required...

  5. How Soon Can I Take Out a Home Equity Loan or Refinance After a Cash Purchase of a Foreclosure? The house is only 10k. So if I pay 10k cash, how fast can I do a home equity loan...

Written by

Filed under: Mortgage Refinancing · Tags: , , , , , , , , ,

6 Responses to "Obama’s Home Affordable Refinance Program (HARP 2.0) Explained in Less Than 2 Minutes."

  1. TyStickish says:
    Nice…
    
  2. rmivideos says:
    Thank you Lew
  3. rmivideos says:
    Thanks for the comments. I am hoping that as more details about the home affordable refinance plan become available, that I will put out more details, so stay tuned by subscribing to my channel
  4. Kelownamls says:
    Hey Rich, your halloween edition is the best!
  5. geokahn1 says:
    Good info. Rich! Can’t wait until November 15 when all the details get rolled out. I heard it may be good for rental properties – whoo hoo!
  6. TailorMadeMortgages says:
    Hey Rich, great information.

    Thank you for bringing it to us in such an entertaining manner

    Lew

Leave a Reply

Connect with Facebook

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Not finding what you're looking for?
Do a custom search of our entire site:

Get Adobe Flash player