New Home Affordable Refinance Program Now Available Announced by the President, October 24, 2011, the Home Affordable Refinance Program has been updated allowing more homeowner’s to take advantage of the program. This program, which is part of the federal government’s Making Home Affordable Program, is intended for homeowners whose loans are owned by Fannie Mae or Freddie Mac and whose homes have minimal or no equity The New HARP 2.0 Mortgage Program Guidelines have several benefits for home owners:
-The program has been extended until December 31,2013.
-Applies to Fannie Mae and Freddie Mac Loans
-See who owns your loan?
-Maximim loan to value (LTV) has been removed
-No appraisal necessary
Call 424-249-3640 now to find out if you qualify
**Not all lenders are participating. Each mortgage lender will enact its own schedule for implementing these enhancements. Lenders should receive instructions from Fannie Mae and Freddie Mac before November 15. Several lenders could begin taking in mortgage applications under the new enhancements by December 1. Other lenders will need extra time to accommodate the changes. Enhancements such as the ones affecting delivery of loans with LTVs above 125% should be in effect by the first quarter of 2012.
-The program has been extended until December 31,2013.
-Applies to Fannie Mae and Freddie Mac Loans
-See who owns your loan?
-Maximim loan to value (LTV) has been removed
-No appraisal necessary
Call 424-249-3640 now to find out if you qualify
**Not all lenders are participating. Each mortgage lender will enact its own schedule for implementing these enhancements. Lenders should receive instructions from Fannie Mae and Freddie Mac before November 15. Several lenders could begin taking in mortgage applications under the new enhancements by December 1. Other lenders will need extra time to accommodate the changes. Enhancements such as the ones affecting delivery of loans with LTVs above 125% should be in effect by the first quarter of 2012.
