Over the past few years, countless people have wanted to keep their homes and refinance to take advantage of continuously lowering rates but find themselves unable do to their declined home value. Many people facing this scenario have eventually sold their homes via short sale or even let them go into foreclosure.
Now, as announced today, the HARP program will allow those with Freddie and Fannie owned loans to refinance to matter how underwater their home value is. This should be really good news for quite a few people if it actually works. I'm sure there will also be quite a few bitter people who will wish this had been done much sooner. For many, this may be way too late of a measure. However, for those who can still take advantage of this, I'm sure they say better late than never.
Don't forget to call Mike Marroquin, your South Bay San Diego Investment Real Estate Specialist! Visit my San Diego Investment property website to view School info in all communities of San Diego.
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