Federal government announces assistance to “Underwater” Borrowers

The Federal Housing Finance Agency has removed several key barriers to the Home Affordable Refinance Program (HARP) in order to allow more underwater borrowers move into lower-rate mortgages.

HARP, which launched in March 2009, helped 893,000 Fannie Mae and Freddie Mac borrowers with loan-to-value ratios between 80% and 125% refinance. But roughly 7% of those held LTVs above 105%.

In order to assist more of the estimated 11 million borrowers who owe more on their mortgage than their home is worth, the FHFA removed the 125% LTV ceiling on the program.

This new program to help borrowers currently “underwater” with home values, like most government programs, will be limited in time and funds available.

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Our Loan Officers are Federally Licensed

Talking to a licensed Loan Officer is an important step to getting the right mortgage loan. Everybody has different loan needs and your Loan Officer will know which questions to ask in order to best match you with the right loan and monthly payment.

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The Loan Officer will also explain all the steps–from getting started, to locking in your low rate, to closing your loan  Because we are a direct lender, if you have any questions during the loan process, you will have one direct number enabling you to get quick answers straight from the source.

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On average, our loans close in about 30 days.