If you are still one of the thousands of homeowners whose mortgage loans are underwater, you can attempt to get relief has HARP 2.0 has been extended through 2016. 2016 HARP 2.0 or the Home Affordable Refinance Program is officially extended per the statement released by the Federal Housing Finance Agency. Even thought a lot of people have taken advantage of using HARP to refinance their upside-down mortgages (mortgages where there is more owed than it is worth) it was still determined that 2016 HARP was necessary. If homeowners wasted time and thought they were out of time to refinance they now can thanks to 2016 HARP 2.0. Quite frankly, a lot of borrowers were holding out hope that their properties would gain enough value to offset the mortgage owed, but the values just haven’t increased that much yet.
Since the launch of HARP back in 2009, this has been a major hit amongst homeowners who realized were in trouble and were given a lifeline. Over 3 million homeowners so far have taken advantage of HARP and it is expected that 2016 HARP 2.0 will assist thousands more as there isn’t a guarantee that this program will be extended again. Originally HARP 2.0 was scheduled to expire on December 31, 2013 but has now been extended 3 times. Under 2016 HARP 2.0 the borrower can benefit in many ways including: Lowering monthly payment, reducing interest rate, securing a fixed-rate mortgage (for borrowers currently in adjustable-rate mortgages or ARMs), building equity faster (refinancing to a shorter term), and lower closing costs since an appraisal is not required.
There are many program features associated with 2016 HARP 2.0 and additional information can always be found atwww.harp.gov.
As the time is ticking on the year 2016, it might be your last chance to refinance under 2016 HARP 2.0. This is a very streamlined program with minimal documentation and no appraisal needed. You can even refinance a property that isn’t your primary residence like a 2nd home or investment property. The property that you wish to refinance only has to fall under the following categories:
So if you are looking for an experienced lender with processing a refinance through 2016 HARP 2.0 you are in the right place. I am available any time day or night at 888-900-1020, you can email me at email@example.com, or feel free to visit my website for all your information needs www.loanconsultants.org.