Through the Obama Administration’
Many banks are not participating in the program despite the Obama Administration’
To qualify for a Michigan HARP refinance (http://riverbankfinance.com/
- All mortgage payments must have been paid on time for the last 12 months
- The loan must be owned by Freddie Mac or Fannie Mae
- The homeowner must have taken out their mortgage prior to June 1st 2009
- Borrower must be able to document their income
If a borrower believes they may be eligible for the Michigan Home Affordable Refinance Program then they should contact a mortgage company and be prepared to gather applicable documentation to apply for the loan. Required documentation includes, 2 forms of identification, income information, asset information and proof that their mortgage was taken out prior to June 1st 2009 (usually the Note).
The HARP program is set to expire at the end of 2013 according to current legislation however it has been extended from its prior expiration (HARP 2.0) in its current form and many experts believe it may be extended again (HARP 3.0). In addition to extending the program’s expiration, the program may be opened up to allow additional homeowners to qualify for the program. The requirement for the mortgage to be owned by Fannie Mae or Freddie Mac may be waived as well as other income verification requirements.
To get additional information about this mortgage program, contact Riverbank Finance LLC for a free consultation.
About Riverbank Finance LLC:
Riverbank is a Grand Rapids mortgage company (http://riverbankfinance.com/
Visit http://riverbankfinance.com for more information.