The new HARP 2 is set up to provide relief to homeowners that are upside down. One of the requirements of the program is that a borrower who is refinancing with through HARP may only refinance their first mortgage and they cannot "roll in" a 2nd mortgage. What does a homeowner do if they have a 2nd mortgage? Short answer - they need to get moving and apply for HARP now! Second mortgages must be re-subordinated. Re-subordinating a 2nd lien can take time and the results of a … [Read more...]
Eligible for the Upgraded HARP 2?
November 27, 2011 by 2 Comments
As your Arizona HARP Mortgage Lender I am committed to keeping you posted on the latest Arizona mortgage developments. I received some official news on the eagerly anticipated new HARP 2 guidelines and wanted to share! As a reminder, this is a program that helps Arizona homeowners that have less than 20% equity in their homes refinance and take advantage of today's low Arizona mortgage rates. Arizona homeowners and their mortgage must qualify (see below for more). Here is a brief rundown of … [Read more...]