New Options Refinancing Underwater Mortgages In Nashville

The Federal Housing Finance Agency (FHFA) has announced a new government refinancing program for borrowers who owe more than their home is worth.  This will allow them to take advantage of today's great interest rates and help to strengthen their household.  The previous HARP guidelines had a ceiling on the loan-to-value ratio (LTV) of 125%.   You could only owe 25% more than it was worth to participate.  The ceiling has been removed and the loan process has been streamlined to make this easier for the homeowner.  One million homeowner were able to take advantage of HARP prior to the changes and the FHFA estimates that the new rules may help another million homeowners.  Rules for this program will be sent to lenders in November and applications for the new program are expected to be available in December.  To be eligible for this program you must be current on your mortgage, it must be backed by Fannie Mae or Freddie Mac, and it must have been sold to the GSE by May 31, 2009.  The end date for HARP has also been extended to December 31, 2013.

Discussion

#1 By mortgage nashville at 7/17/2017 6:30 AM

Mortgage loans are of so many types and are available and even used throughout the world. This is also a benefit of Mortgage loans; they may be priced lower than any other type of borrowings.

#2 By mortgage tennessee at 7/17/2017 6:30 AM

Many things always happen when you have given your place for mortgage because some of people thinking that they got the home now they don’t need to give mortgage don’t need to leave the place for others like you said they just wait for end of days. I guess to control these circumstances mortgage leader should take manpower help.

#3 By Steve at 7/17/2017 6:30 AM

Mortgage rates are at record lows. Take advantage of the great rates now or just watch them climb!

#4 By mortgage nashville at 7/17/2017 6:30 AM

Next month, I and my family are moving to Nashville and it is the first time I am going to buy home. There are number of mortgage options available for people who are looking to buy home for first time.

#5 By Steve at 7/17/2017 6:30 AM

Welcome! Great time to buy a home in Nashville!

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