New Refinance Program to Help Borrowers - Fannie Mae Refi Plus - 0 views

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  #1 Bart Jordan on 21 Mar 12

   

  HARP is just one of the several refinancing options available to homeowners. Since the beginnings of HARP, in May 2009, Fannie Mae and Freddie Mac are generally able to help around nine million families refinance to a lower cost or much more sustainable mortgage product. Out of all of the refinance options available, HARP is the most unique in it's the only program that allows refinancing for borrowers who owe a lot more than their current home is worth. Benefits to the borrower include reduced low interest rates and lower monthly payments. Another perk is that this program may lead to increased stabilization of the Miami real estate market.
  
  A series of changes to the process were announced today so as to expand the range associated with eligible borrowers. Below are a few program enhancements:
  
  --Removing the current 125% loan-to-value for a fixed rate mortgage back just by either Fannie Mae or even Freddie Mac.
  
  --Eliminating positive risk-based fees for borrowers who refinance into shorter-term mortgages.
  
  --Excluding the need for new property appraisal where there is a reliable AVM (robotic valuation model).
  
  One of many important elements of these changes is the elimination of certain risk-based charges, which allows borrowers to take advantage of the shorter-term mortgages. This is excellent news for borrowers who owe more than their current house will probably be worth. These homeowners will be capable of reduce their principal balance owed much faster by shortening the term health of their mortgage note. Also, by reducing the eye rate, their monthly payment can stay in close proximity to their current payment or possibly have a lower payment amount. Even if your payment is the same, this will help you pay less interest to your bank and more in the direction of your principal balance consequently creating equity sooner, rather then later. This program is set to go into influence by November 15, 2011 and presently set to expire on December 31, 2013. Now almost now you can refinance their property!!
  
  I have compiled a list of eligibility criteria for your review:
  
  --Mortgage must be owned or guaranteed by either Freddie Mac or even Fannie Mae.
  
  --Cannot get refinanced under HARP previously unless it was eventually a Fannie Mae financial loan from March-May 2009.
  
  --Current loan-to-value has to be greater than 80%.
  
  --Must be current on the mortgage when refinance, no late payments within the past six months, a maximum of one late payment within the past 12 months.
  
  --Condominiums which were already eligible under HARP that originally meet the requirements.
  
  The first step for the borrower is always to learn if his or her mortgage is owned or guaranteed by Freddie Macintosh or Fannie Mae. If you are not sure where trend, you can either contact should never lender or a seasoned licensed large financial company. Refinancing may be an awesome option for you at this time!
  .
  The DU Refi Plus refinance was created under the Making Property Affordable Program, and may be advantageous for homeowners that currently experience the underwater on their mortgage. The program allows some homeowners the chance to refinance at today's historically low interest rates with loan amounts up to 125% of your home's appraised value. du refi plus, du refi plus

   

  <div class="cArrow"> </div><div class="cContentInner">HARP is just one of the several refinancing options available to homeowners. Since the beginnings of HARP, in May 2009, Fannie Mae and Freddie Mac are generally able to help around nine million families refinance to a lower cost or much more sustainable mortgage product. Out of all of the refinance options available, HARP is the most unique in it's the only program that allows refinancing for borrowers who owe a lot more than their current home is worth. Benefits to the borrower include reduced low interest rates and lower monthly payments. Another perk is that this program may lead to increased stabilization of the Miami real estate market. <br /> <br /> A series of changes to the process were announced today so as to expand the range associated with eligible borrowers. Below are a few program enhancements: <br /> <br /> --Removing the current 125% loan-to-value for a fixed rate mortgage back just by either Fannie Mae or even Freddie Mac. <br /> <br /> --Eliminating positive risk-based fees for borrowers who refinance into shorter-term mortgages. <br /> <br /> --Excluding the need for new property appraisal where there is a reliable AVM (robotic valuation model). <br /> <br /> One of many important elements of these changes is the elimination of certain risk-based charges, which allows borrowers to take advantage of the shorter-term mortgages. This is excellent news for borrowers who owe more than their current house will probably be worth. These homeowners will be capable of reduce their principal balance owed much faster by shortening the term health of their mortgage note. Also, by reducing the eye rate, their monthly payment can stay in close proximity to their current payment or possibly have a lower payment amount. Even if your payment is the same, this will help you pay less interest to your bank and more in the direction of your principal balance consequently creating equity sooner, rather then later. This program is set to go into influence by November 15, 2011 and presently set to expire on December 31, 2013. Now almost now you can refinance their property!! <br /> <br /> I have compiled a list of eligibility criteria for your review: <br /> <br /> --Mortgage must be owned or guaranteed by either Freddie Mac or even Fannie Mae. <br /> <br /> --Cannot get refinanced under HARP previously unless it was eventually a Fannie Mae financial loan from March-May 2009. <br /> <br /> --Current loan-to-value has to be greater than 80%. <br /> <br /> --Must be current on the mortgage when refinance, no late payments within the past six months, a maximum of one late payment within the past 12 months. <br /> <br /> --Condominiums which were already eligible under HARP that originally meet the requirements. <br /> <br /> The first step for the borrower is always to learn if his or her mortgage is owned or guaranteed by Freddie Macintosh or Fannie Mae. If you are not sure where trend, you can either contact should never lender or a seasoned licensed large financial company. Refinancing may be an awesome option for you at this time! <br />.<br />The DU Refi Plus refinance was created under the Making Property Affordable Program, and may be advantageous for homeowners that currently experience the underwater on their mortgage. The program allows some homeowners the chance to refinance at today's historically low interest rates with loan amounts up to 125% of your home's appraised value. <a href="http://aaharways.com/main/userinfo.php?uid=15551" rel="nofollow">du refi plus</a>, <a href="http://www.primissima.it/forum/member/22960/" rel="nofollow">du refi plus</a></div>

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