Learn about the Obama Refinance Program or HARP Program:
Do you owe as much -- or more -- on your mortgage than your house is worth?
If so, the government's Home Affordable Refinance Program (HARP) -- often called the Obama Refi Program or Obama Refinance Program -- can help.
Even if you've applied before, or think you missed the deadline, you should check this out.
The deadline has been extended to December 31, 2015 and the rules have been changed to make the process easier. So far almost a million Americans have gotten a refinance through the Obama Refi Program.
It allows you get get a lower interest rate, shorter loan term or to change from an adjustable to fixed mortgage. Depending on what you select, you could owe less each month or build equity faster and pay off your home sooner.
New rules on the Obama Refinance Program mean you can get a refinance no matter how far underwater your house is, with no appraisal for most applicants. There are also lower fees and less paperwork.
How to get started with the Obama Refi Program?
Get more information and contact a representative here:http://www.harp.gov/
They'll probably ask for your:
- 1. Most recent income tax return
- 2. Info about any junior lien mortgage/2nd mortgage on your home
- 3. Monthly payments and account balances