Home Affordable
Refinance Program is supposed to be in the pipeline for expansion for some time
now. However, not much has happened till now even as the bill is waiting to be
cleared in the senate. HARP 3.0 has been introduced by Barack Obama, president
of United States of America, and there is a general feeling that it could
represent a better deal for people who own homes in the North American country.
The mortgage industry is still waiting for concrete information regarding HARP
3 program. One can also sense that homeowners may be wondering how they
will be helped by all this.
Basically it can be
defined as an extended version of HARP and is expected to provide greater
assistance to homeowners. This program is also supposed to provide people some
incentive for waiting. There are a few things that people need to know about
this program. It is supposed to do away with the restrictions imposed on a lot
of homeowners from being deemed eligible for assistance under the previous
program. As per HARP 2.0 only mortgages that were backed by Freddie Mac or
Fannie Mae were eligible to be refinanced. However, the scope could be expanded
under HARP 3 refinance. Get started today with hassle free process..!
From now on homeowners
who have Alt-A, subprime, and jumbo mortgages could be deemed fit for being
refinanced. As and when it is passed HARP 3.0 would also mend several
problematic areas of the previous edition of the same program. It is expected
that the guarantee fees that are charged as part of HARP refinance would be
reduced as well. This will mean borrowers can save as much as .75 percentage
points when they refinance their mortgage under HARP 3 mortgage. In this day
and age that can be quite a lot of money, especially for families that are
already struggling with financial problems because of their mortgage.
It is also going to
make the program available to a greater number of people thus making it easier
for them to access refinance facilities. For more information on how to refinance mortgage bad credit online
please look up WWW.MORTGAGEREFINANC101.COM
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