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Who is responsible for HARP?
The United States congress is responsible for passing the HARP Act. The HARP act stands for Home Affordable Refinance Program and it is administered by the federal government.
Can you refinance under HARP with a different co signer?
If you qualify for all the factors in a harp loan but work commission can you have a cosigner on the loan?
Who is responsible for HARP act?
The United States congress is responsible for passing the HARP Act. The HARP act stands for Home Affordable Refinance Program and it is administered by the federal government.
How can you refinance your loans in California?
One can refinance their loans in California in a variety of ways. One can research the topic on sites such as Quicken Loans, Zillow, California Harp Refinance, and Bank Rate.
Where can one get help with their mortgage payment?
You might be able to refinance your home. This means lower mortgage payments every month. There are some programs like Home Affordable Refinance Program (HARP) that can help you refinance if you can't due to a low value of your home.
What is a harp loan?
HARP is an acronym for "Home Affordable Refinance Program". The HARP refinance program was originally a program that was designed for homeowners with loans serviced by Fannie Mae and Freddie Mac, that would allow them to refinance with no mortgage insurance, and with loans that were "underwater", or, loans that had a higher balance than the value of the home. The first "HARP" fell short in a couple areas, because income still was heavily scrutinized, and there was a 125% cap on the loan to value. In other words, you couldn't owe more than 125% of what the value of the home was.Currently, there is another option in the works that is called HARP 2.0.The HARP 2 program is an amendment to the first HARP program that will allow borrowers to refinance to lower interest rates with heavily reduced income documentation, and zero limits for value, therefore appraisals might not be needed.In a nutshell, if you are a homeowner with a Fannie Mae or Freddie Mac owned home, and you have no mortgage lates in the last 6 months (no more than 1 late in the past 12 months) you can refinance down to the 4% range on a 30 year fixed, using potentially no appraisal, and reduced to no income documentation.
Can you refinance a house with negative equity?
At times yes. The new HARP program currently allows refinances on properties up to 125% of their value. After March of 2012 once FNMA and Freddie Mac have updated their automated underwriting engines, lenders may go above and beyond 125%. Each lender may put their own additional rules on top of these rules too. Depending on the lender, your loan must be owned by FNMA or Freddie Mac to be eligible for HARP. Call your lender and ask who owns your loan or use the FNMA look up tool on-line. If your loan is owned by Freddie Mac, it also has it's own look up tool, it's harder finding a HARP lender. As always there are criteria to be eligible for HARP and if you have a second mortgage or HELOC, they have to be receptive to the HARP program too. Best of luck to you.
How would it be possible to find out if a person could be eligible for streamline FHA refinance?
There are quite a number of ways to learn if a person is eligible for streamline FHA refinance. One of the best ways would be to view the eligibility requirements on streamline FHA's website. Another way would be to contact someone at streamline FHA.
What is export refinance?
Export Refinance Scheme was introduced with an aim to boost exports of non-traditional items. The finance is given on pre as well as post shipment basis for export of eligible commodities and an exporter may avail the export finance limit, based on his last year's export performance in respect of eligible commodities.
What are the changes to the HARP home loan refinancing program?
As far as I know there are not a lot of big changes, but there are a few, such as you will be required to prove you are able to refinance you're home.
who will refinance my car when im unemployed?
Check with the lender that financed your car in the first place. If your credit and payment record are solid, you might be eligible for refinancing of the current loan. Your ability to refinance will depend primarily on your credit history.
Where can one refinance with poor credit?
Avenues to explore for refinancing with bad credit include the Home Affordable Refinance Program (HARP) and the Home Affordable Modification Program (HAMP). Mortgages have been known to be brought down to 2.4% in some cases through these programs.
