HARP Announcements

HARP 2.0

Revised Home Affordable Refinance Program

You May Now Be Able To Refinance Regardless Of The Value Of Your Home! 

Dear Friends, Family, and Neighbors,

The changes to the Home Affordable Refinance Program that were announced last October have finally become available in the market! (You can follow this link to see the announcement I sent in October ( http://www.covenantmutual.com/page4.html).

The most important change to this program is the elimination of the cap on negative equity. What this means to you is that you may be able to refinance regardless of how much your loan balance exceeds the value of your home!

Your loan must have been sold to Freddie Mac or Fannie Mae prior to May of 2009.

You must be current on your home loan and have no more than 1 mortgage late in the past 12 months.

Your new loan must be more than 80% of the current value of your home.

Please forward this information on to anyone you care about that may have been prevented from refinancing up till now because of their home value.

To find out if your loan is Freddie Mac or Fannie Mae owned visit www.freddiemac.com/mymortgage or www.fanniemae.com/loanlookup . Then immediately give me a call to see if you can take advantage of these changes!

I am looking forward to serving you and those you care about.

This Alert was originaly sent to a select group of my clients in April of 2009.

Obama Says Timing Right For Millions to Refinance!

Dear Friends, Family, and Neighbors,

If you have been wishing you could take advantage of the record low mortgage rates, only to be told that you don't have enough equity to refinance, now is the time to take action!

I've spoken to many of you who make your payments on time and have good credit, but have watched the value of your home decline over the past two or three years.  I have been discouraged by not being able to help you...until now!

 The Obama administration is serious about getting relief to as many homeowners as possible in this national financial crisis. There is a new opportunity for millions of people in this country to take advantage of mortgage rates, rates that have not been this low since before the industry began tracking them in 1971!

"The main message we want to send today is there are 7 to 9 million people across the country who right now could be taking advantage of lower mortgage rates," Obama said in a photo opportunity in the Roosevelt Room. "That is money in their pocket."

Last month, the Obama administration launched a new plan to provide billions of dollars in incentives for the mortgage industry to help homeowners with little or no equity to refinance. The program is called the Home Affordable Refinance program.

This program allows people to refinance their mortgage even if the loan is more than the value of the home. Millions of people will be able to qualify for this program but there are a few restrictions:

Your loan must be owned by Freddie Mac or Fannie Mae.

You must have a good payment record.

Your new loan balance, including closing costs, must not exceed $417,000.

Your new loan balance cannot exceed 105% of your home's current value.

Income documentation waivers are available on Freddie Mac loans. Appraisal and minimum credit score requirements can be waived under some circumstances. 

Consider this program if you have a fixed interest rate and would like to lower it, if you have an interest only loan or an adjustable rate loan.

To find out if you are eligible for this new program visit www.freddiemac.com/mymortgage or www.fanniemae.com/loanlookup to find out if your loan is Freddie Mac or Fannie Mae owned.  Then immediately give me a call take advantage this new and amazing program.  This program is going to cause a huge increase in loan applications all over America and it is important to get in early.

HARP 2.0

Revised Home Affordable Refinance Program

You May Now Be Able To Refinance Regardless Of The Value Of Your Home! 

Dear Friends, Family, and Neighbors,

The changes to the Home Affordable Refinance Program that were announced last October have finally become available in the market! (You can follow this link to see the announcement I sent in October  (http://www.covenantmutual.com/page4.html).

The most important change to this program is the elimination of the cap on negative equity. What this means to you is that you may be able to refinance regardless of how much your loan balance exceeds the value of your home!

Your loan must have been sold to Freddie Mac or Fannie Mae prior to May of 2009.

You must be current on your home loan and have no more than 1 mortgage late in the past 12 months.

Your new loan must be more than 80% of the current value of your home.

Please forward this information on to anyone you care about that may have been prevented from refinancing up till now because of their home value.

To find out if your loan is Freddie Mac or Fannie Mae owned visit www.freddiemac.com/mymortgage or www.fanniemae.com/loanlookup . Then immediately give me a call to see if you can take advantage of these changes!

I am looking forward to serving you and those you care about.

This alert was originaly sent to my clients in October 2011.