Pembroke Pines HARP Refinance

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Apparently you have always been on time with your home loan payments but for some reason nobody wants to refinance your home due to its reduction of value? Well, there is a way to refinance mortgage your property faster and better than ever before. Welcome HARP, otherwise known as the Home Affordable Refinance Program. So now you ask what exactly is a Pembroke Pines HARP refinance mortgage?

What is HARP’s Purpose

Launched in March of 2009, Pembroke Pines HARP refinance aims to provide refinancing to property owners which owned homes that dropped in value. The purpose of this was to prevent the United States of America’s housing bubble of 2006. This program however was created exclusively for property owners who are current on their home loan payments, but instead have been effectively paying their mortgage loan down.

Who’s Eligible

Similar to other government program, Pembroke Pines HARP refinance has many requirements. Take a look at some:

Only mortgages guaranteed by FNMA or Freddie Mac are covered by HARP.
Mortgages are required to be funded before May 31, 2009.
Property owners can not have been delinquent on any home loan payments, 6 months prior applying for Pembroke Pines HARP refinance mortgage.
The home’s Loan To Value (LTV) ratio must be in excess of 80%

In order to qualify there must be some benefit to the property owner regarding mortgage payments or stability in mortgage.

Who benefits from HARP?

The Pembroke Pines HARP refinance mortgage has many measurable benefits. For example, if you still have a $150,000 mortgage on a now $120,000 property, you can have your home loan refinanced. In doing so, you pay down the Pembroke Pines mortgage quicker than before. Also, the monthly mortgage payments you make will most likely be smaller than before.

If your place of residence dropped in value and you would like to do a refinance, then Pembroke Pines HARP mortgage loans is for you. If you require further information, or would like to speak to an expert about Pembroke Pines HARP mortgages, please call us on (877) 442-4023 or fill out our rate quote form.

 

 

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1990 Main Street, Suite 750
Sarasota, FL 34236
Phone: (941) 256-3729
Toll Free: (877) 442-4023

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