Navigation Links
FHFA Highlights Homeowners HARP Refinancing: Eligibility Is Easier

Twin Cities, Minnesota (PRWEB) September 26, 2013

To help homeowners keep their home, the Federal Housing Finance Agency (FHFA) recently launched a nationwide campaign to inform homeowners about the Home Affordable Refinance Program (HARP). The FHFA's intent is to inform underwater homeowners who have been making their monthly mortgage payments that they have the chance to approach their lender and determine eligibility to refinance through HARP.

"HARP refinancing is really so simple of a saving concept that eligible homeowners can quickly see the value of proceeding. It is an important opportunity for underwater homeowners to turn their home mortgage upright by refinancing at a lower rate. We urge homeowners to take a close look at HARP if they still owe more than their home is worth," states Jenna Thuening, owner of Home Destination.

It may be that a lack of knowledge or call to action may be holding some homeowners back. "With the launch of this campaign we look forward to reaching those homeowners who may not know about the program or understand the eligibility criteria to take advantage of today’s low interest rates by refinancing through HARP,” said FHFA acting director Edward DeMarco.

Along with FHFA's campaign, a new website has been created It's content consists of promotional information about HARP, HARP eligibility guidelines, how to advice for getting started, protections from HARP scams, and additional government links for related information.

Homeowner Eligibility Starting Points for HARP Refinancing:

  • No 30-day+ late payments in the last six months
  • No more than one late payment in the last 12 months
  • Your home is your primary residence, a 1-unit second home or a 1- to 4-unit investment property
  • The homeowners current loan-to-value (LTV) ratio must be higher than 80%. Calculate your LTV ratio with this tool. * Your loan was acquired by Freddie Mac or Fannie Mae on or before May 31, 2009. By using the loan look-up tools below, this date will be made available to you.

The housing recovery seems well underway! U.S. house price rises are consistent, consumer confidence is up, construction activity has been hitting highs not seen in years, and foreclosures are falling. Yet other homeowners still need a helping hand. Refinancing offers homeowners the change to reduce their monthly mortgage payments each month and thereby works to prevent further foreclosures. HARP refinancing at the past maximum loan-to-value (LTV) ratio have been set aside, and the 2% fees paid by some high-risk borrowers have been reduced or abolished in the new effort to reach more homeowners, according to the NuWire Investor.

"We need help getting the word out that home borrowers who are current on their mortgage payments have a greater opportunity to refinance their home and take advantage of interest rates while they are still low," states Thuening. "Tell family and friends that they can get out of the red tape that prevents many families from saving hundreds of dollars a month and thousands of dollars a year."

With little to no equity in their homes, HARP means homeowners can take advantage of low interest rates. Fannie Mae has prepared a Loan-to-Value calculator to help homeowners with underwater mortgages estimate how much is still owed on the mortgage compared to your home's current market value. This calculator will use the inputs entered; therefore, for accuracy it is key that accurate information is imputed in order to receive results you can work with.

Jenna Thuening is a Certified Distressed Property Expert who helps families stay in their homes and encourages HARP refinancing were it is the best option. Twin Cities residents seeking to buy a Minneapolis or St Paul area home or who wish to sell their real estate may reach Home Destination at 612-396-7832.

Read the full story at

Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. New JAMA Study Highlights Mobility Limitation as Key to Healthy Aging
2. 24th NAMS Annual Meeting highlights future opportunities, current controversies in menopause care
3. New Study Highlights Young People As a Philanthropic Force
4. Public Administration Review Highlights Health Reform Challenges & Opportunities for Public Administrators
5. Key research from the 2013 Breast Cancer Symposium highlights new insights
6. Chronic Pain Resulting from Chronic Prostatitis Can Be Terminated by A New Herbal Medicine Without Side Effects, Highlights Wuhan Dr.Lee's TCM Clinic
7. New risk model highlights arsenic risk in Chinas groundwater
8. The Holistic Sanctuary Highlights the Dangers of Conventional Drug Rehab: US News & World Report Reveals Links Between Heroin Addiction and Prescription Medications
9. TV Consumer Watch Highlights Face Whisperer® Creams from Sublime Beauty
10. Study highlights need for more social responsibility by online gaming industry
11. Frequent Urination can be Terminated by Taking Herbal Medicine with No Side Effects, Highlights Wuhan Dr. Lee's TCM Clinic
Post Your Comments:
(Date:11/30/2015)... ... November 30, 2015 , ... ... of the leading plastic surgery practices in Florida, is proud to announce that ... for surgical innovations giant Ethicon Inc., a Johnson & Johnson Company. , Ethicon ...
(Date:11/30/2015)... (PRWEB) , ... November 30, ... ... (AIS) is pleased to announce the speakers for “Value-Based Payer-Provider Partnerships: Three ... learned from three innovative value-based care arrangements: Essentia Health and UCare, MissionPoint ...
(Date:11/30/2015)... ... , ... Sikka Software announced today that they are showcasing the Sikka Software ... complex business decisions by providing the tools and information they need to grow their ... procedures customized by zip code. , The Sikka Software Ecosystem includes over 32 ...
(Date:11/30/2015)... ... November 30, 2015 , ... The successful filing of an Investigational ... it is so important to this key industry segment, Regis Technologies has decided to ... on December 4th at 11am EST. , Federal law does not allow new drugs ...
(Date:11/30/2015)... EMIGSVILLE, PA (PRWEB) , ... November 30, 2015 ... ... (CCMS) software provider, has verified that their Vasont Universal Integrator (VUI) extension unites ... handle creating, editing, and managing content as a continuous process with the latest ...
Breaking Medicine News(10 mins):
(Date:11/30/2015)...  Hanger, Inc. (NYSE: HGR ) (the "Company") ... of its previously announced consent solicitation (as amended and ... principal amount 7⅛% Senior Notes due 2018 (the "Notes") ... payable pursuant to the Consent Solicitation, (ii) the proposed ... expiration date of the Consent Solicitation.    ...
(Date:11/30/2015)... 2015  Novartis will demonstrate the strength of its ... American Society of Hematology (ASH) Annual Meeting. Presentations will ... as supportive care, including key findings in rare and ... The ASH Annual Meeting will be held December 5-8 ... Novartis Oncology . "We will be presenting encouraging overall ...
(Date:11/30/2015)... , Nov. 30, 2015   VolitionRx Limited (NYSE ... diagnostic tests for a broad range of cancer types and ... LD Micro Conference, which will be held December 1 - 3 ... from VolitionRx will be David Kratochvil , Chief Financial ... of Investor Relations. ® blood-based tests for ...
Breaking Medicine Technology: