What's All this HARPing about?
We received this email from a local loan officer, Bill Rozek.
In this economy many home owners have found themselves with little or no equity left in their homes. HARP (government acronym for Home Affordable Refinance Program) is one of the programs President Obama has asked Fannie Mae and Freddie Mac to initiate changes in to help these homeowners, and this has caused the program to be widened to help even more home owners. Many are “underwater” as they owe more than their home is currently worth, and this has made refinancing very hard to do until now.
The new HARP programs can allow borrowers to take advantage of lower rates even if they have a current second trust and owe more than their home is worth in the current market. One of my customers just took advantage of this program and saved $400.00 per month on his house payment on an average-sized loan.
If you know of anyone who needs to reduce their mortgage rates, please have them call me. There are programs for people with Fannie Mae, Freddie Mac, FHA and VA loans. Some of these programs are available for investment properties and second homes too!
Please give me a call at 301-325-6399 if you know of someone who could benefit from a HARP loan.
Bill Rozek, Senior Loan Officer, Embrace Home Loans, Rockville, Maryland
Have an outstanding week and be sure to have your camera in hand to capture the special moments.
Hibiscus, Longwood Gardens Conservatory IMG_4132
Photograph by Roy Kelley using a Canon PowerShot G11 camera.
Roy and Dolores Kelley Photographs