Home Affordable Refinance Program (HARP)HARP 2.0 went into effect making refinancing a reality for homeowners in Las Vegas, Nevada. If you are a homeowner that is upside down in your mortgage and you know that your loan is currently owned by Fannie Mae or Freddie Mac, then refinancing may FINALLY be an option for you.
Are You Upside Down on Your Home Loan
HARP and HASPMany Las Vegas and Nevada homeowners are underwater and previously did not have any option for refinancing to take advantage of lower interest rates. HARP 2.0 may now be an option for you.This is an updated release of a previous program from 2010 called HASP (Homeowner Affordability and Stability Plan - Fannie Mae) Where HASP had it's limits due to lender requirements, HARP raised the limited loan to values percentages. This makes it possible for a person to refinance who has greater than 125% loan to value (many Las Vegans!).
Unlimited LTV Options
Casey Moseman, the Queen of Refi In Las VegasI have unlimited loan to value options and not many lenders can say that. I can refinance Freddie Mac Loans and not many lenders can say that either. I can refinance investment properties with unlimited loan to value - this is huge for investors caught up in the 2003-2006 buying craze! The following are pre-qualification questions that you must first be able to answer before I'll know whether you may qualify:
- When was your loan originated (must have been sold to Fannie Mae or Freddie Mac prior to June 1, 2009)
- Do you know if your loan is owned by Fannie or Freddie? Use the following tools to determine if either entity owns your loan:www.fanniemae.com/loanlookupww3.freddiemac.com/corporate
- Have you had any 30 day mortgage lates on any mortgage in the most recent 12 months?
- If yes, when? (1 mortgage late is allowed in months 7-12, no lates are allowed in last 1-6 months).
- Does your loan have mortgage insurance?
- Are you currently employed?
Casey Understands Your Mortgage DilemmaI myself am in the same boat as the underwater homeowners I reference to above and have followed the news surrounding it with vested interest. To see details about the previous HASP program, please refer to myposts I wrote for Freddie Mac Refi or Fannie Mae Refi.
Contact Casey Moseman
to see if you qualify