Refinancing Available for Upside Down Mortgages

Dated: 07/29/2012

Views: 2737

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!

 

 

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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....

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