Help may be here for you!
I am one of many VOU homeowners that is upside down on my mortgage I purchased in the Villages of Urbana in September of 2005, otherwise known as "the height of the market". As a result, I owe$440,000 on a townhouse that is worth about $350,000 (I'm being aggressive with that estimate)
Due to the rapid decline in home prices in our community, many homeowners have been unable to take advantage of today's low interest rate. That has changed if your current mortgage is owned by either Fannie Mae or Freddie Mac. Under the HARP program, you may qualify to refinance up to 95% of the CURRENT value of your home.It is possible that you will not even need an appraisal! Concerned that you have secondary financing in place that puts your combined loan to value (CLTV) over 100%? You may still be able to qualify, provided that your current lender agrees to stay in second position.
Recently, I have been able to take a VOU resident that purchased in 2008 from a 5.375% rate, down to a 4.375% Fixed rate. I'm in the process of helping another VOU homeowner go from a 6.25% Interest Only JUMBO loan down to a fully amortizing JUMBO loan in the low 5% range.
If you purchased using FHA, I am currently offering FHA streamline mortgages from 4.5% with 1 pt and 5% with NO OUT OF POCKET EXPENSE!
Call me today to find out what I can do for you. I will let you know who owns your loan, and provide you with a no obligation good faith estimate!
Josh Burley
Sr. Loan Officer
Choice Finance Corp.
www.joshburley.net
www.choicefinance.net
301.881.8900 x125
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