Expanded Program to Help Homeowners Whom are Underwater: HARP 2.0
Some good news that may open up refinancing opportunities for homeowners with little equity or whom are underwater: the Federal Housing Finance Agency, Fannie Mae and Freddie Mac are enhancing the Home Affordable Refinance Program (HARP). We’re calling it HARP 2.0....“Senate Adopts Measure to Increase Fannie, Freddie Loan Limits”
Bloomberg Businessweek issued an article stating that the Senate has approved a measure to increase our high balance loan limits. The measure now has to be passed by the House to become law. My fingers are crossed! Since reverting back to the “permanent”...Reminder! Temporary High Balance Loan Limits are Expiring Soon!
Temporary high balance loan limits are set to revert back to their permanent levels on September 3oth. This means that your loan must be funded and closed prior to 9/30. In addition, lenders will start establishing deadlines for locks and submissions. I was...High Balance Temporary Loan Limits Set to Expire 9/30/11
Fannie Mae’s current temporary limits for high-balance loan amounts are set to expire on September 30th. On October 1st of this year, they will revert back to the permanent high-balance limits. The limits are dependent on the county you live in, but for many...A New Program to Help California Homeowners in Trouble on their Mortgage
Every once in a while, I am contacted by homeowners that want and need to refinance, but are unable to on account of high qualifying ratios, being underwater on their home, or because they lost their job. Unfortunately, I cannot help people directly when it comes to...Loan Calculator
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