It is important to understand what HARP is, HARP stands for Home
Affordable Refinance Program. What this program does is it allows
homeowner to refinance their properties to get their mortgage payment
lowered.
The average person who uses the HARP program can save up to $2,300 a year.
That also says, if they are going to save money why are they not
using it? Based on what the Director of the Federal Housing Finance
Agency said, people are just not believing it, they are not trusting
their lenders. They think it’s a scam so they don’t go and pursue it.
The Refi program is real. It gives a benefit to homeowners that are trying to lower their payment.
The HARP program extends for another 2 years, so it is something you
should take advantage of. There have been 3.1 million mortgages that
have been refinanced under the HARP program as of to date.
I want you to know that if you are in a mortgage and you need help,
you need to lower that payment, get in and get information on the HARP
program. The Home Affordable Refinance Program.
I want you to read the article below. If you have tried this, or you
have had success with this, or you know anything about it give me your 2
cents because that’s mine.
See More: H.A.R.P Program
See More: H.A.R.P Program
WATCH: FHFA Director Watt ensures HARP is “not a scam”
800,000 families still eligible for HARP
There are 800,000 families nationwide that could still benefit from the Home Affordable Refinance Program, Federal Housing Finance Agency Director
Mel Watt said in Atlanta on his nationwide public campaign to urge more
borrowers to take advantage of the Home Affordable Refinance Program.
So far, 3.1 million mortgages have refinanced through HARP, but many of the consumers left who can refinance are staying out of the market due to fear.
“HARP is designed to reward those borrowers who are the most committed in this country. This is not a scam,” Watt said.
Watt is making a point to reach out to homeowners he feels could
benefit under HARP. But he also wants the mortgage industry to
understand why some people still hold trepidations toward the mortgage
finance industry.
“As it stands now, people don’t trust their lenders and it’s creating
uncertainty. All of this research and anthropological evidence
contributes to the downturn. Still there are casualties to this war and
the industry would do right to honor that,” Watt said in an exclusive interview with HousingWire magazine. “Today, there’s just a lot of people — and no one pays enough attention to it — who got burned.”
And this is exactly what Watt is trying to combat. “By engaging
directly with local community leaders, faith-based organizations, local
elected officials and lenders, our goal is to leverage these trusted
sources to reach as many ‘in-the-money’ borrowers as we can,” Watt said
about the campaign.
“We know that there are hundreds of thousands of borrowers
who can still benefit from Home Affordable Refinance Program and are
essentially leaving money on the table by not taking advantage of the
program,” said Watt.
The FHFA released a new interactive map
as well to show the number of estimated in-the-money borrowers eligible
for the program across the country. It even dives down to specifics of
every zip code, county and metropolitan statistical area in the country.
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