If borrower meets all approval criteria of the program. This refinancing program is a part of Obama administration’s Making Home Affordable plan which is designed to help millions of financially struggling homeowners modify or refinance their mortgages to make them affordable and sustainable and thus to enable borrowers to prevent foreclosure.
If you did not consider Obama’s Home Affordable Refinance Program as your right option previously with a thought of getting rejected because of its stringent approval criteria, you may now want to consider applying for the HARP 2.0 program, a revamp of original HARP introduced in 2009 by the Obama administration to help tens of thousands of homeowners to refinance their mortgages. Interestingly, some of the eligibility requirements have been modified to allow a larger population of financially distressed homeowners to take advantage of the foreclosure prevention program HARP 2.0. Prior to applying for it, you must get a complete understanding of what Home Affordable Refinance Program 2.0 is all about and what its eligibility criteria are.
“Who could be eligible for HARP 2.0?”, such question is being faced by many underwater homeowners today. If you are one of them, here is useful information on the eligibility guidelines of the Home Affordable Refinance Program.
Borrowers can now be considered for HARP 2.0 regardless of how far their home has fallen in value. Even certain risk-based fees for those who refinance into shorter-term loans may also be either eliminated or modified as per the HARP 2.0. Also, the end date to get a HARP refinance program has been extended to 31 December, 2013. Over and above, the HARP 2.0 refinancing criteria also require mortgage to be guaranteed by Freddie Mac or Fannie Mae. To qualify for it, you should also be current on your mortgage with good payment history in the last 12 months. It is quite essential to understand all these criteria beforehand.
See how getting approved for HARP 2.0 can be made easy?
Remember, if you do not get a complete understanding of HARP 2.0 refinance program, its approval criteria and process requirements, it could be challenging for you to refinance your mortgage at affordable rates and prevent foreclosure which no homeowner will like to experience in his life. An ideal way to overcome this issue is to find a service that provides free professional assistance to borrower to help him improve his approval chances for a foreclosure prevention program.
All you need to make sure is that the service you have found is reliable and reputed. Such services hire competent mortgage specialists who are conversant with each federal foreclosure prevention program including HARP 2.0 and also the updates or changes made in its approval requirements. You just need to complete online non-obligatory application process of few minutes through the website of a reputable mortgage service firm to get assisted by a knowledgeable and experienced specialist to know about the best place to get HAPR 2.0 plan and determine your eligibility for HARP 2.0. Remember, refinancing mortgage under HARP 2.0 is not that easy, it requires expert assistance to do is correctly and successfully and to find effective solutions of your mortgage troubles through a hassle free procedure. For more information, visit: www.obama-loanmodifications.com
About Obama-loanmodifications.com
Obama-loanmodification is a leading mortgage service provider in the United States which has been in business for over seven years. Till date, the firm has helped tens of thousands of borrowers in getting educated for finding affordable mortgage interest rates and hence, significantly reduced monthly payments. Consumers, who are interested in knowing more about low rate home refinancing.
