Special offer

105% refinance for troubled homeowners on the way.

By
Mortgage and Lending with Fairway Independent Mortgage Corporation Nevin NMLS #69651

The recently announced "Homeowner Affordability and Stability Plan" (HASP) authorized Home Affordable Refinance Programs (HARP).  HARP allows for the following refinance products released by Freddie Mac and Fannie Mae; Freddie Mac Relief Refinance, Fannie Mae Refi Plus and Fannie Mae DU Refi Plus.  Many lenders intend to support these initiatives and high focus is being given to their release.  They are working with external agencies and mortgage insurance partners and are awaiting clarification of outstanding items.
  
These refinance products are intended for borrowers with existing Fannie Mae or Freddie Mac loans that are current, but due to declining property values have been unable to refinance. The products allow for up to 105% Loan To Value.  As soon as more information becomes available I will post it.

 

Nevin is a professional mortgage loan broker originating residential loans in the following states: California, Oregon, Washington, North Carolina and commercial loans in all 50 states.  Memberships include: Society for Business Ethics, National Association of Mortgage Brokers, California Association of Mortgage Brokers, Veteran of Foreign Wars, !st Cavalry Division Association, Cary Chamber of Commerce and Civitan International.

Call or e-mail me for current mortgage rates or real estate related questions!

Nevin's services include property & casualty insurance, personal budgeting, financial planning, retirement planning strategies, sales training and real estate contract review.

Visit my website: www.raleighhomeloans.org     Email me:  nevin@nevinloans.com

 

Anonymous
Jennifer E.

BEWARE...Even if your home comes up with a match found showing your home as a Fannie Mae vested property...The Desktop Underwriting Loan Origination System, which is owned by Fannie Mae, may not allow you to have the special Refinance Plus program.  You have a 50/50 chance being one of the lucky ones who gets to borrow over 80% of your home.  It is entirely unfair... some get it and some don't!  It should be offered to all applicants!

Apr 18, 2009 05:05 PM
#1
Nevin Williams
Fairway Independent Mortgage Corporation - Cary, NC
Senior Mortgage Advisor

I agree.  Hard to say what will come of this.  Very few people will see a benefit unfortunately.  I think we should just let the economy do what it needs to do and stop interferring!

Apr 22, 2009 02:50 AM