How Can I Get Home Affordable Refinance Program - Harp 2.0 Program

Aug. 28, 2012 - PRLog -- In 2009, the Obama administration introduced its comprehensive strategy namely Making Home Affordable MHA program to provide relief to millions of struggling homeowners whose home values have declined considerably and therefore they are likely to suffer foreclosure. MHA itself has provisions of refinancing, modification and foreclosure prevention alternatives. The Home Affordable Refinance Program HARP is part of Obama’s broad strategy MHA program. HARP is designed to help underwater homeowners refinance their mortgages so that they can get more stable and affordable product. To get approved for the making home affordable refinance program, you need to study its eligibility guidelines well in advance.

Check Out If You Can Qualify For Obama’s Foreclosure Prevention Program HARP 2.0 http://www.obama-loanmodifications.com/harp-2.0.php

Original HARP has failed to make any impact on housing market upheaval. Additionally, numerous struggling homeowners could not get benefited with it due to its stringent eligibility criteria. Therefore, the President came out with HARP 2.0, a revamp or expansion of the original HARP. In HARP 2.0, many eligibility guidelines have been relaxed so that number of underwater households who can be eligible for refinancing under it could increase. Homeowners who tried but could not qualify for the previous HARP introduced in 2009, can try it once again with Obama’s HARP 2.0.

If you have this question in your mind, how can I get home affordable refinance program?, you need to follow some crucial guidelines before applying for the HARP:

1.   Mortgage can be refinanced under the HARP only if it is owned or guaranteed by Freddie Mac or Fannie Mae.
2.   Mortgage should have been sold to Fannie Mae or Freddie Mac on or before 31 May, 2009.
3.   Homeowner’s current loan-to-value (LTV) ratio should be more than 80%.
4.   Homeowner should be current on his mortgage with not more than single late payment (exceeding 30 days) in the last 12 months before applying for the HARP.

A situation of being stuck with unmanageable mortgage payments and mortgage which is worth more than the value of your home could be a depressing one. Increasing level of financial hardship could also lead you to foreclosure. You may therefore put some efforts to determine your eligibility for the HARP and start its application process; but before that you should know how to qualify for the same.

Like many struggling homeowners, you may want to know when and where to get home affordable refinance program and how to qualify for it. HARP has its own eligibility standards as well as particular application and underwriting process which you should be familiar with to avoid any hurdle to take place in the entire refinance process. You can get assisted by a well-known mortgage specialist to find out the best foreclosure prevention option which fits your budget and takes care of your requirements. He will also help you by making you well-versed with enough information on the correct approach to apply for the HARP and how to qualify for the same.

How Can I Get Home Affordable Refinance Program?- Get Assisted By An Expert To Know How http://www.obama-loanmodifications.com/refinance-applicat...