HARP 2 Makes Inequity Refi Simple

As you may have heard, the government is overhauling it's HARP refinance program.  This upgrade will drastically improve the existing HARP (“upside down/no equity refi program”) that may finally allow this program to reach the millions of American and Arizona homeowners that need it. However, there are 3 key proposed changes that would allow many more Arizona homeowners to take advantages of HARP2:   1. The new proposed HARP 2 refinance eliminates the 125% cap meaning that there is … [Read more...]

“Operation Twist” mean Lower Mortgage Rates?

The Federal Reserve made an announcement today that pushed mortgage backed securities higher than ever before. The Fed Reserve announced "Operation Twist."  In short, the Fed decides to sell $400 billion in short term securities and reinvest that same $400 billion in long term securities - specifically mortgage backed securities.  This move will support current low (maybe even lower) mortgage rates. Why is this important to what you and I do?  In the short term it is significant because today’s … [Read more...]

Refinancing When you are Upside Down

Great News!!!  Rates are at all time lows. Frustrating News!!!  Many people don't have enough equity to refinance their homes. While not everyone that is the lucky owner of a home that has decreased in value has an option to refinance, many equity deficient homeowners have options.  Phoenix Area Mortgage Rates are at all time lows and now is the time to take advantage!  Here are a few options for homeowners that do not have equity in their current home: 1. FHA, VA and USDA homeowners: … [Read more...]