HARP Help For Struggling Homeowners March 2012

Underwater on your mortgage? Or know of anyone?

 

This is your chance to take advantage of record low rates, no matter how upside-down your Costa Mesa mortgage is!

 

 

The new HARP program is the most flexible we have seen. If you currently have a mortgage held by Fannie Mae or Freddie Mac, the HARP II refinance loan can help you lower your interest rate and decrease your monthly payments. This is only available from March 19, 2012, December 31, 2013, and I would suggest applying early- there will be a lot of submissions. Do NOT miss this opportunity!

 

HARP Help For Struggling Homeowners March 2012. Here are some of the fine points for you Costa Mesa homeowners who might be upside down, and wanting to refi to a lower rate:

 

• The Costa Mesa real estate loan amount(s) can exceed the value of your home
• Appraisals may be waived
• Credit scores as low as 620 are allowed – just no foreclosures or short sales
• Primary, Investment properties and 2nd homes allowed
• Single family residences, condos, multiple units (up to 4) all are eligible
• Loan must have been sold to Fannie Mae or Freddie Mac prior to June 1, 2009
• Subordinate financing (2nd loans or home equity lines)eligible to stay in place as long as that lender approves

The key to this program is to find out if your loan is “owned” by Fannie Mae or Freddie Mac. You don’t likely know since your loan is “serviced” by an institution other than Fannie Mae or Freddie Mac. I put the two links at the top to each of the institutions loan lookup tools so you can determine who owns your loan and see if you can save money in 2012 with these low rates.

 

Need help getting through this process? I don’t do lending, but I can refer you to one of several qualified lenders who can help you get your Costa Mesa real estate loan refinanced under this program.

 

Need other help with Costa Mesa real estate? I would love to help. Feel free to contact Colin at (714) 743-9882 or E-mail me here to reach me.