Keep Your Home With The New HARP Refinance Program

The Home Affordable Refinance program 2.0 of 2012 has given permission to homeowners of underwater homes which are more than 125% to refinance. Homeowners with little or negative equity and with really high upside down ration cannot refinance conventionally or even through the firs HARP that was proposed. Another benefit is that HARP 2.0 eligibility does not require the home loans be owned by Fannie Mae or Freddie Mac. The Federal Housing Finance Agency (FHFA) and the Obama administration have renewed hopes to stabilize the housing market.


The Home Affordable Refinance Plan 2.0 is meant to help more homeowners to refinance to current low interest rates. It gives you a much better chance of getting the best deal and working with the best loan modification company.  You will get the best loan terms possible negotiated within the HARP Refinance Program. Your previous mortgage is studied in depth. New violations of law are identified and used as leverage to get you and affordable monthly payment.
When you refinance with a home loan modification it will make long term changes in one or more condition of your mortgage. It will give you a new mortgage with affordable monthly payments. The HARP Plan aims to help homeowners with difficulties to refinance their mortgage. A homeowner current or not current with monthly payments and facing a drop in the home value will be approved for this program. The goal is to help homeowners refinance with a lower interest rate and lower monthly payment.


Previously the lender could not or were reluctant to exceed 125% LTV. The March 2012 Update has made the HARP 2.0 allows unlimited LTV mortgages. The loans being processed by original lender with manual underwriting systems are now replaced with automated systems in March 2012. With this the housing loan industry expects lenders to apply these standards to all applications. Visit http://www.obama-loanmodifications.com for more information.