Tallahassee HARP Refinance

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Apparently you’ve never been late with your mortgage loan installments but for some reason there isn’t anyone who is interested to allow your home to be refinanced due to its declined value? Well, there are ways to refinance your property easier and more effective than ever before. Welcome HARP, also known as the Home Affordable Refinance Program. So what exactly is a Tallahassee HARP refinance mortgage loan?

The Purpose of HARP

Created back in March 2009, Tallahassee HARP refinance aims to provide refinancing to homeowners whose home decrease in value. The purpose of this was to prevent the United States housing burst bubble of 2006. This program however was designed exclusively for homeowners who are not behind their mortgage loan installments, but rather have been making timely payments towards paying their mortgage off.

Who’s Eligible

Just like other government program, Tallahassee HARP refinance loans has many requirements. Take a look at some:

Only mortgage loans secured by either FNMA or Freddie Mac are covered by HARP.
Mortgage Loans are required to be applied for and acquired before May 31, 2009.
Home owners must not have been delinquent on any mortgage payments, for the 6 months prior to requesting a Tallahassee HARP refinance.
The loan-to-value ratio must be at least 80%

There must be some sort benefit to the property owner in regards to their mortgage payments or stability in mortgage.

Who benefits from HARP?

The HARP refinance has multiple benefits. One example would be, if you still have a $150,000 mortgage on a now $120,000 property, you can have your mortgage refinanced. As such, you pay the Tallahassee mortgage quicker than before. Furthermore, the monthly mortgage payments you make will likely be smaller than you are currently paying.

If your place of residence dropped in value and you would like to refinance your mortgage, then Tallahassee HARP refinance is for you. If you require additional information, or if you would like to contact an expert about Tallahassee HARP mortgage loans, feel free to call us at (877) 442-4023 or complete 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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