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Debt Relief – Insolvency – Bankruptcy Information » Entries tagged with "Affordable"

Affordable Refinancing

Article by Cesar Bryant The Home Affordable Refinance Program allows homeowners to switch an adjustable rate mortgage with a limited rate mortgage. In other words there has to be a legitimate reason why the home-owner needs refinance assistance. Homeowner Qualifications Current Mortgage Payment History – The homeowner must remain current on all mortgage payments as a way to qualify for this government mortgage services program. Primary Residence – The homeowner must make use of property as their home. This program is simply not for folks with vacation home property finance loan problems. If you have a distressed vacation home property and mortgage than perhaps a quick sale, a deed in lieu, maybe home sale is the best course. Refinancing Makes Financial Sense – The homeowner needs in order to afford the new payment terms that … Read entire article »

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Importance of Home Affordable Refinance Program Rates

The government and private companies have introduced harp program which help the people to deal with negative equity using good home affordable refinance program rates. There are many people who are unable to pay their mortgage. The reason behind it can be their unemployment, loss in business, high inflation or any other unexpected reason. Due to all these reasons people face bad credit history. Looking at this condition of the people the term refinancing was introduced. It is the term in which the borrower decides to pay his current loan through the new loan plan. Harp program is a key solution to the people who face negative equity. The harp stands for home affordable refinance program. This program has been serving people since so long. This program includes many different factors. Interest … Read entire article »

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The Home Affordable Refinancing Program

Article by Pepple Holli Many homeowners try to re-finance their mortgage but aren’t succeeding for many reasons. Whether you observe the financial information on CNBC or Bloomberg Television, or listen to a nearby radionews, I’m sure you’ve heard about the particular existance of government plans aimed at helping homeowners who cannot reap the benefits of low mortgage rates, given that they don’t qualify to refinance their mortgage. This kind of “Harp loan program” is a fantastic opportunity for property owners with mortgages owned by either Fannie Mae or Freddie Mac. Maybe you didn’t get a refinance having a traditional refinance standard bank, because the value of your home has declined? Or maybe you owe more than the marketplace price of your house? Then a Home Affordable Re-finance Program (HARP) may help you … Read entire article »

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The Home Affordable Home refinance Program

Article by Pepple Holli Many homeowners try to remortgage their mortgage but aren’t succeeding for many factors. Whether you enjoy the financial media on CNBC or Bloomberg Tv set, or listen to your neighborhood radionews, I’m sure you’ve heard about your existance of government packages aimed at helping homeowners who cannot take full advantage of low mortgage rates, simply because don’t qualify to re-finance their mortgage. This specific “Harp loan program” is a fantastic chance of property owners with home loans owned by either Fannie Mae or even Freddie Mac. Maybe you failed to get a refinance using a traditional refinance traditional bank, because the value of your house has declined? Or you owe more than industry price of your house? Then this Home Affordable Remortgage Program (HARP) may help you to … Read entire article »

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The Requirements For The Making Home Affordable Modification Program

Article by Scott Pasinski You might have heard of the new Making Home Affordable Modification Program that is provided for all homeowners out there. This allows them to modify their payments to prevent any future delays in their mortgage fees. People who are still on time when it comes to their mortgage payments can still apply for this plan. More importantly, this is a good option for people who are really having trouble when it comes to their payments. What are the requirements for the Making Home Affordable Modification? 1. The home should be the primary residence of the applicant. Rest houses or secondary properties are not accepted for the program. 2. People who are currently experiencing problems with their payments. It may be that they have lost their source of income, reduction with … Read entire article »

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Secure Your House with the Making Home Affordable Plan

Article by Scott Pasinski Losing your house in one of the worst things that can happen to any family. Unfortunately, when something comes up and you are suddenly unable to pay for your monthly mortgage, the reality of losing one’s home becomes a cause for fear and concern. Because of this you have to take action at once in order to save your house. Before, you would have to sacrifice a lot of other things just to be able to save your house. But now, with the making home affordable plan, you wouldn’t have to compromise your other priorities just to keep your house. This plan modifies your existing mortgage payment scheme to make it more comfortable for you. This plan helps you allot more money on your other priorities and still … Read entire article »

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Home Affordable Refinance Program: Helping the Under-Water Homeowner

Article by Bret Pippen The Home Affordable Refinance Program also referred to as “HARP,” helps homeowners refinance their mortgage who otherwise might not qualify. If you’re current on your mortgage payments, but your home’s value has fallen to a point you owe more than your home is worth, this program may help. Current market conditions have slammed home values especially hard. And, many responsible homeowners have been unable to get traditional refinancing. HARP is designed to help by providing eligible homeowners with more affordable, stable mortgages. The Home Affordable Refinance Program is part of the federal government’s “Making Home Affordable” initiative. According to President Obama, the goal of HARP is “to provide access to low-cost refinancing for responsible homeowners suffering from falling home prices.” By refinancing, responsible homeowners may improve their financial positioning. The … Read entire article »

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Home Affordable Refinance Rates Offer Mortgage Relief

With the advent of Obamas making home affordable program, many lenders have made its guidelines a part of their business practices. Bad credit mortgage refinance are loans approved for people with any type of credit to not only avoid foreclosure but also to make ready cash available for their emergency needs. With the advent of Obamas home affordable refinance program, many lenders have made its guidelines a part of their business practices. Bad credit mortgage refinance are loans approved for people with any type of credit to not only avoid foreclosure but also to make ready cash available for their emergency needs. Comparative information on mortgage refinancing rates can be easily got thru free quotes from many companies on the internet. Just make sure they are accredited by reputable national organization … Read entire article »

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Making Home Affordable Can Slash Your Mortgage Payment

Article by Frank Collins The Making Home Affordable home loan modification plan has dramatically altered the lives of many peoples in the USA. If you are able to modify your home loan to a much more affordable monthly payment it will help many homeowners who are in need. Otherwise, their alternative is to let it go to foreclosure. Before the modification plan it was not easy at all for homeowners who had less than stellar credit to qualify and secure a n attractive or market interest rate. The initiative outlines many details along with the usual business and financial terminology so it is not something the average person can easily comprehend. It may be better for you to let companies handle it for you who are well-versed and experienced with “Obama’s Refinance … Read entire article »

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Loan Modification Eligibility Requirements under Making Home Affordable Program

Article by Simon Volkov Borrowers who desire a loan modification might qualify for Obama’s Making Home Affordable programs. Lender participation is voluntary, so borrowers should first contact their mortgage service provider. Once lender participation is verified, borrowers should take time to understand how Making Home Affordable programs work and the process involved.   Homeowner’s must meet loan modification eligibility requirements and undergo a financial audit. Mortgage lenders must verify income to determine if borrowers can afford modified loan payments. Borrowers are subjected to a loan approval process similar to the one they underwent when originally applying for the home loan. Homeowners should organize financial records prior to apply for a loan modification. Lenders usually require payroll records, bank statements, list of expenses and a current tax return. Some lenders require borrowers to provide IRS … Read entire article »

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How Does a Short Sale Work Under Making Home Affordable?

Article by Simon Volkov Homeowners are curious about how does a short sale work under Making Home Affordable. This government sponsored program was initiated in 2009 as a means to help homeowners save their home through loan modification or mortgage refinance. The program now offers foreclosure alternatives including short sales and deed in lieu of foreclosure. To provide a precise answer to how does a short sale work is difficult because every lender adheres to different protocol. Even lenders that participate in the Home Affordable program do not follow exact guidelines. However, there are some basics that nearly every lender requires. The best place to start is the Making Home Affordable website. Homeowners can review a list of participating lenders and review short sale eligibility criteria. It is advantageous to apply for mortgage … Read entire article »

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