HARP2.0- Home Affordable Refinance Program Saves Underwater Homeowners

April 3, 2012 - PRLog -- President Obama announced improvements to the HARP 2.0 program that will financially help millions who are currently underwater. Many will reap substantial benefits from the long overdue and needed changes to the underwriting guidelines. Record numbers of people are rushing to secure the lowest mortgage interest  rates in history.

The “Making Home Affordable Refinance Program” is giving many hope and quality monthly savings. This program will not discriminate based on credit scores, or property location. Folks who originally had a seven or five year adjustable rate mortgage will be able to lock in a thirty year fixed mortgage at a lower rate. HARP 2.0 is providing many the lowest possible monthly mortgage payment and biggest savings.

Real estate investors will also be able to refinance investment properties and rentals. The real estate speculation from a few years ago has punished some real estate investors who anticipated quick flips and abundant returns. Investors can now lock in the lowest fixed monthly payments while the rental income from tenants absorbs the financial obligation. Some have expressed that the HARP 2.0 will prevent future short sales and foreclosures as investors who selected short term adjustable rate products will no longer suffer the consequences of resets that increase mortgage payments.

HARP 2.0 affords homeowners on both primary residential units and rental properties the opportunity to rebuild equity in their homes at a much faster rate while experiencing tangible monthly savings at fixed 30 year terms regardless of how upside down they may be.

Homeowners can learn about the underwriting guidelines, requirements, closing times and the necessary documentation by visting http://www.harp-refinance-info.com. Currently homeowners are encouraged to complete an online worksheet before a  trained and certified HARP 2.0 specialist calls the homeowner back to lock in the lowest rates and schedule a closing. The entire process can be done in as little as 7 to 15 days.

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