refinancing: HARP UDATED GUIDELINES. THE GOVERNMENT IS FINALLY GETTING IT RIGHT!! - 12/25/11 11:34 AM
 
Re: HARPHi all,I have been keeping my eye on the recently updated HARP guidelines. Thursday FNMA reported it was rescinding the "ability to repay" overlay from the new lenders responsibility on HARP. This added to the removal of the LTV appraisal requirement and is potentially allowing a refinance for distressed borrowers very easy. The reasoning is if the borrower is current on their (higher interest rate) existing loan on an over encumbered property for at least the last 12 months, they can refinance to a lower rate and payment. Reason says the borrower respects being current and should stay current … (0 comments)

 
Terry Lewis, Seller Financing, Lending, Broker (Note Builders, Inc. Keller Williams)

Terry Lewis

Seller Financing, Lending, Broker

La Jolla, CA

More about me…

Note Builders, Inc. Keller Williams

Address: P.O. Box 2365, La Jolla, CA, 92038

Office: (855) 366-6837

Mobile: (858) 224-3139

Note Builders is a MLO, licensed in California. Specializing in seller financed compliant transactions. Dodd Frank and the S.A.F.E. Act require a MLO to sign off on many of owner carry transactions.


Links

Archives

RSS 2.0 Feed for this blog