If you were unable to qualify for the Home Affordable
Refinance Program, you can consider applying for HARP 2.0 refinance plan, which
might have less stringent approval requirements. However, it must be made known
that taking specialist’s support is necessary in order to learn insights of mortgage
HARP 2.0 plan and take best advantage of the same. Read more to refinance with HARP 2.0...
The wait is over for homeowners who have been finding it
difficult to refinance their mortgage because they owe more on their mortgages
than the worth of their homes. The HARP 2.0 refinancing program have been
introduced to help tens of thousands of struggling homeowners in the U.S. to
solve their mortgage troubles by replacing existing mortgage with a more stable
and affordable product. Thus, even if you are underwater on your mortgage, you
could be considered for HARP 3 mortgage program,
a revamped version of the Home Affordable Refinance Program. It must be made
known that some approval requirements have to be met by borrower to get
qualified for this home affordable refinance plan.
To refinance with HARP 2.0, borrower’s mortgage must have
been sold to Fannie Mae or Freddie Mac before June 1, 2009. Besides, borrower
should be current on his mortgage and have no late payments in the last six
months. It shall be learnt that late payment is defined as one, which is more
than 30 days overdue. Most importantly, borrower should not have more than one
late payment during the past 12 months to qualify for HARP. Moreover, it must
be borrower’s first refinance through HARP. If he has refinanced under the
earlier version of the Home Affordable Refinance Program, then he will not
qualify for HARP 2.0. With previous version, many homeowners were unable to
refinance their mortgages due to some stringent approval requirements
associated with the same. Now with mortgage HARP 2.0, more people will be able
to solve their mortgage payment troubles and save homes.
However, instead of directly applying for the same, one
should consider taking expert support offered by some of the most reliable and
well-known online mortgage services. These services, which are associated with
the huge and ever expanding online network of mortgage, refinance lenders, help
borrowers to find right lender who has best solution for homeowner’s mortgage
problems. These services employ the team of knowledgeable as well as
experienced mortgage specialists who have spent years in mortgage market and
hence know what it takes to be approved for the Home Affordable Refinance
Program 2.0. They are aware of overall process requirements involved and hence
can provide immense support to borrower who is finding it confusing to figure
out if HARP will help him to bring his mortgage payments back on right track or
how to be approved for the same.
