HARP 2.0 Guidelines For Drowning Homeowners Wanting To Reach Dry Land

April 5, 2012 - PRLog -- Homeowners are excited about the improvements to the "Making Home Affordable Refinance Program" better known as HARP 2.O. Guidelines and strict restrictions were the reason why the original HARP that launched in April of 2009, failed to help more than 90% of the homeowners who applied for help. But the administration has finally taken action during one of the most depressed housing markets to deliver a solution to help the millions of Americans who struggle with their underwater or upside down homes.

The news of the relaxed .HARP2.0 guidelines, has homeowners rushing to secure the lowest rates ever seen in American history. The main qualifying factor is that homeowners  must be current on their mortgages for the last six months with no more than one 30 day late payment during the last twelve months. President Obama urged Congress to "reward Americans who continue to pay their homes even though they have been unable to refinance because they are underwater".

Real estate investors who got burned in the speculation of the once booming real estate market are also flocking to secure 30 year fixed rate HARP2.0 refinances.  It may very well be decades before the housing values bounce back. Rental demand is currently on the rise, and investors who are unable to flip their rental investments are locking in the lowest payments for the longest terms.

One of the most popular features of the “Making Home Affordable Refinance Program” is that credit score requirements have been waived,  those who have fallen behind on unsecured debts such as credit cards, but have continued  paying their mortgages on time can still get the lowest interest rates. Additionally, regardless of how deep underwater a homeowner may be there are absolutely no loan to value limitations. As many as 7.2 million Americans owe double of what their current property value is. HARP 2.0 can help homeowners rebuild equity faster.  

HARP 2.0 refinances require no out of pockets costs as appraisals have also been waived, and the fast online process has homeowners closing in as little as 7 to 15 business days. Primary and rental homes qualify for a HARP 2.0 refinance. For more information on HARP 2.0 guidelines visit http://www.harp-refinance-info.com.

# # #

Online matching service assisting homeowners to shop for the best mortgage rates and financial solutions. Services range from real estate acquisition, hard money lending, mortgage lending and collateralization of restricted pink sheet otcbb penny stocks.