Refinancing Available for Upside Down Mortgages

Dated: 07/29/2012

Views: 2661

The HARP (Home Affordable Refinance Program) program that was implemented in 2011 and then revised in March of this year is here to help upside down homeowners refinance to be able to take advantage of the lower interest rates that are available today.  In some instances you can actually refinance to the lower interest rate, cut back the years on your mortgage and keep your monthly payments the same, which will allow you to get out of PMI years quicker than originally scheduled through your current mortgage.

 This program was enacted to help the people that have stayed current on their mortgage even though they have lost so much of their equity and therefore would not allow them to refinance to take advantage of the historically low interest rates. Yes, even if you owe more than your house is currently valued you may qualify to take advantage of this program so that you too can benefit from the low interest rates that are available today!

Please go to this link: http://harp-gov.com/ to see the qualifications for this program, if it appears you qualify, check into it and take advantage of it!

 

 

Blog author image

Carolann Newton

I was a domestic paralegal for 8 years prior to Real Estate. Since I have been in Real Estate I have grown to love this business, even though it does have it's challenges; it is very exciting. There i....

Latest Blog Posts

8 Tips For Finding Your New Home

8 Tips for Finding Your New HomeA solid game plan can help you narrow your homebuying search to find the best home for you. Read Visit houselogic.com for more articles like this. Copyright 2018

Read More

Feb 17 2018 3564 2

424 Graham Rd.$415,000 Single Family 3 Beds, 3 Baths, 1 Half Baths, 2,624 Sqr Ft, Anderson29625 - Great lake house close in to town with double decking dock and has a boat lift. This is a

Read More

Feb 17 2018 3564 1

202 Mahaffey Road$109,900 Single Family 2 Beds, 1 Baths, 1,124 Sqr Ft, Williamston Price Reduction29697 - Move in ready! Charming, freshly painted and remodeled two bedroom, one bath

Read More

Located In Williamston But Convenient To Greenville And Anderson

This lot is conveniently located near the heart of Williamston where a 1,200 sq ft plan home is to be constructed. Affordability, with three bedrooms, two bathrooms and 1,200 sq ft provide plenty of

Read More