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By Jack Wilson | Other/Just Looking in Florida

Florida's Home Affordable Refinance Program (HARP)

Florida's Home Affordable Refinance Program (HARP) ::  REFINANCE UNDERWATER FLORIDA MORTGAGE-OK

WE REFINACE UPSIDE DOWN & UNDERWATER FLORIDA HOMES- Do you own more than your Florida home is worth?  Don’t think you can refinance because you’re underwater? Now you can refinance a Florida home even if you have NO EQUITYwith the HARP 2.0 REFINANCE PROGRAM.

That is the goal of Obama’s Refinance Program, stimulate the economy. Politics aside, if you can save money from HARP then why not take advantage of it?By allowing underwater Florida homeowner’s the ability to take advantage of today’s lower interest rates with out have to pay down their equity or have mortgage insurance, current Florida homeowner’s can reduce their monthly mortgage payments, save more money and provide a boost to the economy.

Florida's Home Affordable Refinance Program (HARP)

REFINANCING UNDERWATER FLORIDA MORTGAGE LOANS- Once the bubble burst many Florida homeowners found that they were living in a home that wasn’t worth as much as their Florida mortgage. While this situation is not new, it has recently reached epidemic proportions. In some cases, cash-strapped Florida homeowners are choosing to allow their Florida mortgage company to foreclose, or they’re simply walking away from the home before that process can start. As a result of the new Obama HARP program Florida underwater homeowners can refinance to take advantage to talk advantage of historic low interest rates for their underwater Florida home loan.

Florida's Home Affordable Refinance Program (HARP)

REFINANCING UNDERWATER FLORIDA HOME LOANS- Underwater Florida home loan refinancing is hard to find during the best of economic times. However, many Florida mortgage lenders have recently tightened their lending practices for even the best customers. Most mortgages now only cover 80% of the value of the Florida homes appraised value for a first Florida mortgage or a Florida refinance. Regardless of the homeowner’s credit rating, this requirement automatically eliminates most Florida underwater loan refinance applicants. Of course, late Florida mortgage payments and low credit ratings make it even harder to refinance underwater Florida mortgage loan. 

Florida's Home Affordable Refinance Program (HARP)

OBAMA GOVERNMENT HOME LOAN REFINANCE PROGRAM-The Federal government has implemented a special program to help Florida Underwater homeowners refinance with underwater Florida home loans refinance as part of the economic stimulus plan. The Home Affordable Refinance Program, commonly known as the HARP program, helps Florida homeowners with refinancing underwater Florida home loans when the Florida mortgage balance is between 105% and +125% of the Florida homes current market value. While this underwater Florida mortgage refinance program won’t be able to help everyone, it is expected to allow many people to keep their Florida home and lower their total monthly housing obligation.

Florida's Home Affordable Refinance Program (HARP)

REFINACE FLORIDA UNDERWATER HOME LOAN REQUIREMENTS-Florida homeowners that are interested in  in refinancing an underwater Florida home loan using the HARP program, the Florida mortgage must be current for the past 12 months. Any late payments in the previous twelve months will automatically disqualify the Florida underwater home loan applicants. The Florida underwater mortgage must be owned by either of the primary government-sponsored mortgage agencies, Fannie Mae or Freddie Mac. Many Florida homeowners do not know if their property is owned by one of these agencies, but their lender can provide the information. Credit scores and lender rules will also apply. Florida homeowners can streamline this underwater home loan underwater refinancing by filling out our Florida mortgage application.

FLORIDA UNDERWATER MORTGAGE REFINANCE FOR FINANCIAL HARDSHIPS- Florida Homeowners interested in refinancing an underwater Florida home loan who don’t qualify for the HARP program may be able to take advantage of the Florida Home Affordable Modification Program, also known as HAMP. The Florida home loan must be owned by the same government agencies or by another lender that qualifies for the underwater mortgage program. HAMP is backed by the US government, but it is not an underwater Florida home loan refinance program. Instead, HAMP is a loan modification program that permanently changes the terms of a Florida mortgage loan.

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Florida's Home Affordable Refinance Program (HARP)

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