If you should be underwater on the home loan as numerous are right here in Ocala you may well be entitled to refinance, without paying off your principal or incorporating expensive PMI, through the HARP system or Home Affordable Refinance Program. The HARP system was created to provide property owners with underwater mortgages the chance to refinance to today’s reduced rates, with no assessment! This program was revised in March of 2012, therefore you may now be eligible if you attempted to refinance before that time without success, the parameters have changed and. The program that is new now called HARP 2.0.
Eligibility Demands for HARP 2.0
There are lots of needs you have to satisfy to qualify for HARP 2.0 Refinance:
1). Your loan should be a mainstream loan supported by Fannie Mae or Freddie Mac. You are not eligible for HARP, but may qualify for an FHA Streamline Refinance or VA Streamline Refinance if you have an FHA or VA loan. The Fannie Mae and Freddie Mac web sites have actually types where you could determine if for example the loan is supported by either of those. Hyper hyper Links to these web web sites are provided below.
In the event your loan just isn’t located on the Fannie Mae or Freddie Mac sites, you aren’t entitled to a HARP refinance.
2). Your home loan will need to have been securitized ahead of June 1, 2009. read more →