FHA to cut refinance fees under White House plan
The Federal Housing Administration (FHA) will cut fees for homeowners with FHA-backed mortgages seeking to refinance under a new plan to expand the effectiveness of an existing refinance program, the White House announced Tuesday. An estimated 2-3 million FHA borrowers will be eligible to benefit from the revamped FHA Streamline loan program.
Obama is reported ready to announce that refinancing fees for FHA insured borrowers would be cut in nearly in half from the current 1.15 percent of ...
Upcoming Changes To FHA Mortgage Insurance
- UFMIP increases to 1.75% for all base loan amounts
For base loan amounts of $417,000 or less and loan terms greater than 15 years
- When LTV is greater...
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Apply for a HARP Mortgage Refinance Loan Online
Call Ben Gerritsen, mortgage specialist at: 1-801-747-9176...
What is HARP & how can it help me?
HARP stands for Home Affordable Refinance Program. HARP was put out by the Obama administration. It was designed to help homeowners with their mortgages that are upside down and under water in refinancing their property & mortgages.
The hope of this program was undoubtedly to allow those who were making payments on their mortgage to capitalize on the lower interest rate, and in turn keep them in their property and away from default....
WHAT THIS MEANS FOR YOU
Essentially this means that no matter how far underwater you are on your property, you will be able to Refinance under HARP, and lower your payment as well as your interest rate!
Of course there are a few qualifications, but for the most part as long as your mortgage is current you will be able to finally get some help!!!...
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HARP 2.0 is rolling out
Since October of 2011 the mortgage industry has been chomping at the bit to have the changes that were announced by President Obama take effect for loans owned by Fannie Mae or Freddie Mac that have been unable to refinance during the past few years as we’ve had historically low interest rates. The past 5 months has been a long wait for many families that have been waiting for these changes.
For the past four months I have had families calling me and asking when the new loan chang...
