The Home Affordable Refinance Program or HARP, was created in 2009 to help people who suddenly had “underwater” mortgages as a result of both the housing crisis, and the great recession. This program helps people who have mortgages that are now worth more than the house they bought to refinance their loans at a lower rate, without having to pay for private mortgage insurance.
To qualify for a harp loan, you have to fit certain criteria:
One of the most important things you can do as a new homeowner is to buy a house that you will actually be able to afford. Many people nowadays think that their monthly mortgage rate is low until they have to start paying it. If you’re finding that you need to make massive cuts in [...]
Too many people are losing their homes to foreclosure. The reason a lot of people go into foreclosure is because they simply do not have the money each month to pay their mortgage. Homes can be quite expensive and the mortgages attached to them once you buy them can be even worse. Because of this, [...]
There are several factors that cause you homes estimated value to go down. One is living in a neighborhood that is considered depressed. This basically is defined as the area has taken a turn for the worse and home values are plummeting. Also, the overall housing market causes your estimated value to go down. Take [...]
If you want to buy a new home, you should determine how much you can afford to pay each month. There are many online calculators that can help you determine this amount. You can also contact a mortgage company and get qualified. There are good prices for homes that have been foreclosed upon. Foreclosures often [...]