In an effort to help people who have honored their underwater mortgages, the Obama administration has created the Home Affordable Refinance Program (aka HARP).
(prHWY.com) June 20, 2012 - Irvine, CA -- Irvine, California, (TBD) - Many responsible home owners over the last several years have mused at the fact that they are being punished for paying their underwater mortgages on time. All this was happening while their neighbors were abandoning their homes and their mortgages. But now the Obama administration has introduced the
Home Affordable Refinance Program (aka HARP) to help responsible home owners refinance their homes.
Refinancing under the new Home Affordable Refinance Program will allows home owners who are stuck with ah high interest rate on a house worth less than the mortgage. The
Obama home refinancing program will allow these people to switch from their old mortgage to a new mortgage with a lower interest rate.
The loans under the
Obama HARP program are easy to apply for, but there are several eligibility requirements. The easiest way to check these requirements is to visit
http://www.harpalliance.com/ and fill out their questionnaire. Some of the requirements include: mortgage must be serviced by Freddie Mac or Fannie Mae, mortgage must have been originated before May 31, 2009, and payments must be current.
Applying for the HARP program is easy and will not require the home owner to have their house re-appraised. The refinancing is mainly aimed at allowing the home owner to get a new mortgage with a much a much better interest rates. The
Obama home affordable mortgage program is also available with no additional application fees nor there any pre-payment penalties if the HARP loan is paid off before the end date.
The
HARP refinance program is an opportunity for underwater home owners to be rewarded and capitalize on the record low interest rates being offered by most lending institutions. These amazingly low rates will not be available for ever. People interested in the Housing Affordable Refinance Program will need to act fast as the program is not slated to last forever.
About HARP Alliance:
Based out of California, HARP Alliance has seen the need in the current economic times and the hardships of home owners to create a place where home owners can go to save money and their homes. HARP Alliance is an organization that aims to help people get the information they need to save money and refinance their homes.
HARP Alliance has a team of experts who are ready to help underwater home owners navigate the treacherous waters of the
Home Affordable Refinance Program. The HARP Alliance team will help people with everything they need to get them qualified for the program.
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