Orlando Mortgage Blog

What one topic seems to consistantly get more hits daily on our web site? Without a doubt it is the Home Affordable Refinance Program also known as "HARP".  It's simple as to why, really. This Federal program is designed to assist homeowners, second home owners and investor property owners in refinancing their mortgage even if they owe more than the current value in today's market. Due to the historic drop in real estate values since the bubble peaked in 2006 +/-, many of our friends and neighbors have found themselves in the unenviable position of being mortgaged very near to or over the current value of their real estate. This temporary program originally set to expire this June 30th was extended until June 30, 2012. I'll give you a link at the end of this blog update that will allow you to see all the related details including links to pin down who owns the current loan which is the first step in determining whether you qualify for the many program benefits.      

The main advantages in a nut shell are the ways that someone in the midst of the current equity crunch might be able to refinance at normally unavailable loan-to-value levels without private mortgage insurance (PMI) even if it were available. This program is the only option open to many borrowers today that find themselves owing more than the value of their properties or certainly very near so. It doesn't matter how low rates are today if you can't qualify for a standard loan. Click here for much more detail on the program and please feel free to contact us about the program on any Florida home today.