Great News for “Underwater” Homeowners ~ Changes to HARP Program Announced

-
President Obama has opened up refinancing opportunities to more Homeowners who owe more than their home is worth (a.k.a. “underwater”) through the Home Affordable Refinance Program (HARP)!

If you are wondering what this means...and if you can benefit...here is some helpful information. The President's proposal is not a new program, but a revision to the current Home Affordable Refinance Program (HARP).

One of the biggest changes under new HARP provisions: Now Homeowners can refinance no matter how “underwater” they are!

Next, an Appraisal is not necessary IF Fannie Mae or Freddie Mac can electronically estimate the value through their valuation models, saving YOU Time & Money!

Keep in mind that these updates to HARP apply only to people whose mortgage is currently secured by Fannie Mae or Freddie Mac...and whose loan was securitized by Fannie Mae or Freddie Mac prior to May 31, 2009. How do I know if my loan is owned or has been guaranteed by Fannie Mae or Freddie Mac? For Fannie Mae:  www.fanniemae.com/loanlookup  For Freddie Mac:  www.freddiemac.com/mymortgage

To read more details, you can visit the FHFA Web site.

Comments

Post a Comment

Popular posts from this blog

Top 10 ways to increase your home's value

-
Image
If you have the bug to sell your home, you may want to grab a tool belt first. Why? In today's hyper-competitive real estate market, agents often tell their clients that it's a "price war and a beauty contest". So in addition to being the best priced home on the block, you need to be sure that your home also delivers a knock out first impression. A terrific way to position your home to attract the maximum number of suitors is to provide buyers with a home that is in turn-key condition. A turn-key home is one that a buyer can move into without inheriting a list of unfinished projects. So what are the top 10 ways to increase your home's value? Let's take a look: source: trulia Siding and exterior paint One of the fastest ways to make a better first impression with buyers is to paint the exterior of the home and, if needed, to replace the siding. A fresh coat of paint will freshen up the exterior and modernize the appearance. Just be sure to use colors that wi
Read more

2019 Wealth Report

-
Image
Predicting what the next 12 months have in store for our clients and customers has proved to be an interesting process. The multitude of global, political and economic issues addressed on this page a year ago, continue unresolved and have become increasingly more complex. Nevertheless, we remain optimistic about the year ahead. While there may be challenges, there will also be considerable opportunities as markets shift. In this year’s edition of The Wealth Report we highlight residential and commercial markets across the world that offer opportunities and options for those looking to invest in property. Visit here for more info:  2019 Wealth Report
Read more

LOCATION MATTERS: KEY CONSIDERATIONS FOR BUYING A PRE-CONSTRUCTION CONDO IN MIAMI

-
When it comes to purchasing a pre-construction condo, the location is a crucial factor that should not be overlooked. Evaluating the neighborhood, proximity to amenities, and transportation accessibility is essential. It is important to consider the level of development in the area, future plans, and the potential for obstructed views. Especially for ultra-luxury condos, the location plays a vital role in attracting luxury buyers and offering desired amenities that cater to their preferences. Certain areas have established themselves as renowned destinations for luxury condos, naturally capturing the attention of potential buyers. Consequently, buyers tend to focus on these areas while disregarding others. Neighborhood Assessment: Evaluate the neighborhood surrounding the pre-construction condo. Consider factors such as safety, infrastructure, nearby schools, and recreational spaces. Research the overall desirability and development potential of the area. Proximity to Amenities: Assess
Read more