HARP Refinance Lightens Up on Credit

There is undoubtedly great news regarding Fannie Mae's HARP refinance program!  In late 2013, refinancing using the HARP program with a prior foreclosure, bankruptcy or short sale was simplified!   Additionally, there are several beneficial upgrades to the HARP program making it easier for eligible borrowers to qualify.   HARP is a refinance program that allows eligible borrowers to refinance if they are upside down or do not have 20% equity in their homes. Apply for a Home Loan … [Read more...]

Fine Tuning HARP Upside Homeowners

Many HARP eligible AZ homeowners and HARP eligible homeowners across the country have ridden the HARP roller coaster of disappointment.   They take the ride up when they hear there is a loan program called HARP that will help them refi no matter how "upside down" they are - YAY!!!  Then, the dreaded ride back down to earth when they realize that many lenders refuse to touch their HARP eligible loan with a 10 foot pole!! Why are Fannie and Freddie selling tickets to such an unpleasant ride? … [Read more...]

Arizona Refinance – Several Options

Today's record low Arizona mortgage interest rates have led many Phoenix area homeowners to ask the question "what are my AZ refinance and cash out refinance mortgage options?"   The current refi market offers up some very different answers and scenarios than refi markets have in the past.  Fortunately, the unique circumstances that today's AZ homeowner faces (mainly a lack of equity in their home) can often be dealt with using a handful of the more innovative mortgage refinance products … [Read more...]

A PIW Helps With HARP 2 in Arizona

Phoenix NASCAR fans this is not Elmer Fudd's acronym for Phoenix International Waceway.  PIW stands for Property Inspection Waiver and this is something every Phoenix Arizona Mortgage Lender loves to see!  This is something that can give a Phoenix area HARP borrower a HUGE advantage when trying to refinance their HARP or HARP 2 eligible home.  While Fannie and Freddie were supposed to roll out the new and improved HARP 2 eliminating the 125% Loan To Value the truth at this point in time is the … [Read more...]

HARP 2 Refinance Program

One of the perks that HARP offers to a HARP eligible homeowner in Arizona is that a homeowner can refinance with less than 20% equity and NOT have to pay mortgage insurance.  Typically, when a homeowner has less than 20% equity in their home they are required to pay mortgage insurance.  With HARP's main focus being on helping homeowners that are upside down refinance and leverage today's record low mortgage rates, some retooling with regard to mortgage insurance guidelines was a must when … [Read more...]