Home Loans California & Arizona

I Owe More on my Loan Than What the House is Worth, what Options are Available?

May 3rd, 2015 4:59 PM by Nathan Rufty



Your Options for your California Property is the HARP Refinance Home Loan Program. 
Making Home Affordable Refinance Program
known as HARP, can assist home owners who's Note is owned by Fannie Mae or Freddie Mac prior to May 31st 2009.



You may be eligible for HARP if you meet all of the following criteria:

 

  • The Note must be owned or guaranteed by Freddie Mac or Fannie Mae.
  • The Note must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.
  • The mortgage cannot have been refinanced under the HARP program previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.
  • The current loan-to-value (LTV) ratio must be greater than 80%.
  • The borrower must be current on the mortgage at the time of the refinance, with a good payment history in the past 12 months.
The HARP program is set to expire on December 31st 2015, explore this option before it is to late. Does not hurt to have a conversation about this program and if you are unsure if your mortgage is owned by Fannie Mae or Freddie Mac, call me and I will check for you.

I will need the individual's name who is the primary note holder, complete address of the subject property and the last 4 digits of the social security number of the primary note signer. If you are eligibility to refinance lets move forward on this rate and term refinance home loan.

The benefits the HARP program has to offer is:
  • Can shorten the term of the loan to a 15 or 20 fix term
  • Take an existing adjustable rate and turn into a fix rate
  • If you owe more than what the home is worth, un-limited loan to value
  • No monthly mortgage insurance
  • No appraisal required
  • Allows for higher qualifying debt to income ratios
Do not delay, call or text me right away at 909-503-5600 and lets get started by discussing your goal with a refinance home loan under the HARP Home Loan Program in California (Making Home Affordable Refinance Program). Click HERE to contact me.

By Nathan Rufty
Posted by Nathan Rufty on May 3rd, 2015 4:59 PM

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