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