HARP 2 from Charleston, South Carolina to San Diego, California
HARP 2 in South Carolina and California has begun. Homeowner’s who are underwater will be able to refinance their home at today’s extremely low interest rates with no out of pocket expenses, no appraisal, and very little if any closing costs. This is a no brainer. So far the program is living up to its promises. I have worked on several HARP loans in Charleston, SC and San Diego California. On average my clients are savings $450 per month. Or they are able to reduce their mortgage terms down to 15 years and have virtually the same payment. Reducing the term saves them hundreds of thousands and gets them that much closer to retirement.
The HARP 2 Program or Home Affordable Refinance Program is designed to help responsible homeowners get some relief during these tough economic times by helping them lower their payments.
How do you qualify?
1.Your loan must be backed by Fannie Mae or Freddie Mac
2.No late mortgage payments on the house you are trying to refinance in the last 6 months and only 1 late in the last 12 months.
3.You got the mortgage before June 1, 2009.
It’s important that you get started right away as interest rates are unpredictable and they are low now but there is no guarantee they will stay this low. Also because so many people will qualify there is bound to be a backup in underwriting that will cause delays of a few months. For more information and to see if you qualify contact us today.
eddie@coastlendmortgage.com – South Carolina Offices 843-388-5763, California Offices 619-347-0207.