Michigan Harp 2.0 Upside Down Refinance ...are You Eligible?

July 14, 2012 - PRLog -- Michigan HARP 2.0 Are You Eligible?

MICHIGAN HARP 2.0 UPSIDE DOWN REFINANCE

It’s no big shocker that many homes in Southeastern Michigan have drastically declined in value over the past few years - some areas more than others, of course.  The reduced home values create a scenario in which hardworking, loyal homeowners are stuck in properties that are worth less than what they owe the bank (also referred to as being “upside down” or “underwater”).  Up until now, there was no real, viable solution to the epidemic sweeping across the State of Michigan.

Up until now, in the current HARP program, borrowers were limited to maximum LTV’s (loan-to-value ratios AKA how much you owe vs. how much it’s worth) of 125% or sometimes as low as 105%…not much help.

But, with this new Michigan HARP 2.0 mortgage, Michigan homeowners can get the help they really need.  Even if you owe twice as much as what your home is worth, HARP 2.0 can help!   And with Michigan interest rates at or near all-time lows, your time to lock in mortgage savings is right now!

Curious on how much you’ll save?  Calculate your new payments right here! http://www.miforeclosurehelp.com/harp

What’s new with the HARP 2.0 Program?
Changes to the previous HARP refinance guidelines:

•Your current mortgage must be owned by Freddie Mac or Fannie Mae
Check to see if you have a Fannie Mae loan: http://www.fanniemae.com/loanlookup/

Check to see if you have a Freddie Mac loan: https://ww3.freddiemac.com/corporate/

•The loan-to-value cap is now lifted for mortgages with terms up to 40 years for all banks; it doesn’t matter how much you owe you, YOU can qualify for the Michigan HARP 2.0 refinace program.
•Certain fees will be waived for homeowners who refinance into a shorter-term loan.
•A property appraisal may not be necessary as long as there is enough information to estimate your home value.
•Any mortgage company can now process your HARP refinance. You are NOT required to use your current Michigan mortgage company.
•BEST OF ALL …We have HARP 2.0 Programs were there is ZERO out of pocket costs!
For More information on the NEW HARP 2.0 Program and how it might be able to reduce your monthly mortgage payment, Call Tom Jacobs at VanDyk Mortgage at 877-893-5965


You can also get a FREE copy of our eBook that will give you step by step information on how to get approved for many of the New Government Refinace Programs by clicking here
http://www.miforeclosurehelp.com/hamp