WJ Bradley Mortgage Capital to Particapte in new HARP Program in Arizona

PRLog (Press Release) - Nov. 11, 2011 - It was recently announced that WJ Bradley will be particapting in the new HARP 2.0 homeownership refinance program in the Arizona Market.  As many people know Arizona has been one of the hardest hit states in regards to home values and the current HARP program has had little effect.  The new program which does not require an Appraisal be be officially ready to go on November 15th.  Though we we waiting for final details on the program, there is some info out regarding elibility for the program:

1.  Client(s) current mortgage must be owned by Fannie Mae or Freddie Mac.  A homeowner can either go to Fannie or Freddies website to check or contact us.
2.  The current loan must have been originated prior to May 1st, 2009
3.  The current mortgage must be current within the past 6 months and only 1 late payment in the last 12 months
4.  Current mortgage can have Mortgage Insurance (big change from last HARP program)
5.  No Appraisal required (big change from last HARP program)

Now rumor has it refinance fees in this new program are expected to be lower.  Also if a client currently has a second mortgage, they could qualify if the lender in second position agrees to subordinate (we will go over this with the client).  Also there are talks of a possible streamline process which could include limited income or asset verification.  More news on this to come.

Since the program will have a window of opportunity associated with it, we encourge all homeowners in the state of Arizona who are interested in the program contact us to begin qualification.

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