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freddie mac: HARP Refinance - The first few months - 05/02/12 09:28 AM
HARP Refinance - The first few months
HARP 2.0 has been in place for awhile now, and although I have helped several people refinance their underwater loans with the HARP 2.0 loan program, it has actually been a bit disappointing. As typical with government programs, the reality of HARP 2.0 falls short of the perception.
When the program was announced back in October, 2011 it sounded like everyone - no matter what their loan to value or their income would be able to refinance at today's low interest rates.
When the program moved full steam ahead in March, 2012, many people have … (1 comments)
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freddie mac: Who owns my mortgage loan? - 03/12/12 05:56 AM
Who owns my loan? Minneapolis, MN: Until recently, no one really needed to know, and no one really cared who ultimately owns their mortgage loan. Home owners simply receive their monthly statements, and make their monthly payments to their mortgage company or loan servicer.
There are many program to assist homeowners, including the improved HARP 2, the Home Affordable Refinance Program, which require the loan be owned by Fannie Mae or Freddie Mac, so it is very important to know who, and if they own your mortgage loan.
There are usually a few people involved in your loan process:
The Originator: … (0 comments)
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freddie mac: HARP 2 Refinance not ready just yet - Why? - 01/17/12 09:22 AM
HARP 2 - Not ready until March 15th, 2012
Minneapolis, MN: There is a lot of consumers interested in a HARP refinance in MN and WI. The Home Affordable Refinance program allows home owners who have lost value to still refinance their homes are today's low HARP refinance rates. HARP has been available since mid 2009. HARP 2, which was announced in November 2011 removes some restrictions, and should help many more home owners refinance their home loans.
Officially, the enhanced HARP 2 program started December 1. Unofficially, most lenders won't be offering it until after March 15th, 2012. Let's explore … (1 comments)
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freddie mac: New Government refinance options coming soon? - 09/28/11 09:19 AM
Minneapolis, MN: Many reports have surfaced recently that the government is seriously considering a wide range of ideas to assist consumers in refinancing their homes loans owned by Fannie Mae and Freddie Mac to take advantage of today's amazing low interest rates. For a variety of reason, mostly to due to negative equity or current tighter credit underwriting guidelines, large numbers of these homeowners have been left to the sidelines.
As a Mortgage Loan Officer, I have never fully understood some of the silliness in some underwriting guidelines, and have a few suggestions.
If Fannie Mae or Freddie Mac (you … (0 comments)
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freddie mac: HARP - Special Affordable Refinance Program - 09/21/11 11:46 AM
HARP - Special Affordable Refinance Program Do you have a Fannie Mae or Freddie Mac loan and cannot refinance due to declining property values or a loss of income? Would you like to reduce the cost of your monthly mortgage payments or move into a stable fixed rate mortgage? We may be able to assist through the Homeowner Affordability and Stability Plan. A special HARP Affordable Program, which is designed to help up to 9 million American families refinance their loans to a payment that is affordable now, and into the future. One of the initiatives in this program is aimed … (0 comments)
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freddie mac: HARP, the Home Affordable Refinance Program for underwater homeowners has been extended - 03/15/11 02:47 PM
HARP, the Home Affordable Refinance Program for underwater homeowners has been extended until June 2012 The Home Affordable Refinance Program was set to expire this June 30th, but has been extended one year until June 2012. The extension is great news, as HARP has been about the only success story of all the government programs attempting to stem the tide of foreclosures. Basically if your existing first mortgage is held by Fannie Mae, or Freddie Mac, and that first mortgage is LESS than 125% of today's value, you may qualify and be able to take advantage of today's low rates … (0 comments)
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Joseph Metzler MLO MMS NMLS # 274132
,
MN
More about me…
Mortgages Unlimited, Inc
Address: 33 Wentworth Ave E #290, Saint Paul, MN, 55118
Office Phone: (651) 552-3681
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Mortgage industry news and insights from a 15+ year industry expert. Mortgage are Real Estate News You Can Use.
Joe is a Certified Minnesota Mortgage Specialist, who provides home mortgage loans not only in the Minneapolis, St Paul area, but all of Minnesota and Wisconsin.
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