HARP 2.0 Refinance program rolls out for NC residents
One of the latest attempts to kickstart the lagging housing market and refinance market has been implemented by the Obama administration. HARP (home affordable refinance program) allows greater underwriting flexibility for borrowers to potentially take advantage of historically low mortgage rates. Eligibility guidelines have been expanded to allow for even those homeowners with negative equity, the opportunity to lower their mortgage rates. If your loan was delivered to Fannie Mae or Freddie Mac before June 1st 2009, your loan is likely eligible for HARP 2.0. In a nutshell, this means that even if your house is “underwater” you might be able to take advantage of these low rates. Give me a call or send me an email and I can check it out for you.