HARP Refinance Program
There's been a lot of press this year about the HARP
refinance program both good and bad. HARP is a
great program, but, it's shrouded in mystery and is
causing consumers a lot of confusion. The only way
to know if HARP is right for you is to know the facts
about the program so we're going to outline a few
key items here for you.
   
What it's NOT
The biggest source of negative
press about the program is
generated from
mis-information.  To help
explain the program best, let's
start with what the program is
NOT

HARP is
not a No-Doc loan.  
You can't be out of work and
late on your mortgage
payment and expect to close a
loan under this program.
Although the qualifications are
much easier than a normal
refinance.., you still have to
qualify. Your lender or broker
still needs to collect paystubs,
W2's, tax returns etc.., and
must process your loan file like
any other.  In fact, the more
documentation you provide the
easier it'll be for your broker to
put together a solid approval
for you.

HARP is also
not a principal
reduction program. Home
values have declined nationwide
but HARP does not lower the
balance you owe to your
current lender.
What it IS
The HARP refinance program is
a great program for those
homeowners who wish to
refinance and take advantage
of today's excellent interest
rates.  If you've tried to
refinance recently, you know
that low appraised values are an
issue.  If the HARP underwriting
software gives your loan
scenario a favorable result,
you'll be able to proceed with
your loan WITHOUT AN
APPRAISAL.  Proceeding
without the need for an
appraisal avoids the value issues
we're all struggling with today.

HARP can be used not only for
your primary home, but also for
second homes AND investment
properties.  Whether you have
just one or multiple properties
the HARP program could save
you a significant amount of
money each month by lowering
your interest rates thereby
decreasing your monthly
expenses
.

To find out more about this
great refinance program,
give us a ring today!
   
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