HARP 2

For Fannie Mae and Freddie Mac Guaranteed Loans

(Effective 3/1/2012)

 

Underwater On Your Mortgage? 

This NEW HARP2 program may help!

With the new Home Affordable Refinance Program (HARP) loan, you may be able to refinance no matter how upside-down your mortgage is! 

HARP2 may be a viable option if you intend to stay in your home for the next 20 years.  The Federal Reserve's View: Can the 60/40 Plan Really Save The Housing Market? What if the homeowner needs to move before their homes' value returns to outstanding loan balance?
 
Would you like to lower your monthly mortgage payments and have more cash in your pocket?
  

Las Vegas HARP Refinance

Freddie Mac and Fannie Mae have adopted changes to the Home Affordable Refinance Program (HARP) and you may be eligible to take advantage of these changes. 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, decrease your monthly payments and help you start turning your finances around.

  • Appraisals may be waived

  • No LTV/CLTV restrictions on fixed-rate loans of 30 years or less

  • Only 620 FICO required

  • Loan was sold to Fannie or Freddie before June 1, 2009

If your mortgage is owned or guaranteed by either Freddie Mac or Fannie Mae, you may be eligible to refinance your mortgage under the enhanced and expanded provisions of HARP. The refinance must benefit you in one of four ways:

  • Reduction in the borrower's monthly principal and interest payment

  • Reduction in the interest rate

  • Reduction in the amortization term

  • Movement to a more stable product (i.e., interest-only to fully amortizing, ARM to fixed, 30-year to 15-year, etc.)

The HARP II loan may be the solution you’ve been looking for! 

To take advantage of updated HARP2 guidelines:

  • Go to your lender and asks if they support HARP;
     
  • IF your lender does not support HARP, contact us.
You can determine whether your mortgage is owned by either Freddie Mac or Fannie Mae by checking the following websites:

www.freddiemac.com/mymortgage or www.fanniemae.com/loanlookup


Contact Us 702-677-8796

Linda Strasberg Las Vegas Realtor

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