Government’s “New HARP” Program Offers Up To $4,200 per year ($350 per month) Mortgage Reduction, You Can Check If You Qualify In 60 Seconds…

Could the “New Harp” be The Greatest Mortgage Reduction Program In History?

(Washington, D.C.) – Congress has replaced HARP, which helped over 3.3 million Americans reduce their mortgage payment, with a number of new programs including the Freddie Mac Enhanced Relief Refinance (FMERR) initiative, but the banks have been keeping this a secret!

When homeowners visit the HARP Replacement website, they may be surprised to find out they qualify for a plan that offers them shockingly low-interest rates and reduced mortgage payments. These new initiatives replace HARP, the Obama-era mortgage relief program, and can help middle-class Americans reduce their monthly payments by as much as $4,200 each year*.

If you owe less than $625,000 on your home you may qualify for Freddie Mac’s Enhanced Relief Refinance option. It’s hard to believe this program exists but after HARP helped more than 3.3 million U.S. households to refinance the government knew they had to step in with a replacement. This new program, or one of several other conventional refinance programs still could help hundreds of thousands – if only more homeowners would apply.

Take This 60-Second Quiz To Check If You Qualify For the “New HARP”

While the government has not announced an expiration date, who knows if this “beta” program will last past 2019. So, homeowners are urged to TAKE ADVANTAGE NOW.

So if lowering your payments, paying off your mortgage faster, and even taking some cash out would help you, it is vital you act now.

Many homeowners could still be eligible for a government refinance program that can save them on average $4,200 each year. Remember, there are many government refinance programs and there’s absolutely NO COST to see if you are eligible.

Want To See How Much You Can Save? Here’s How You Do It:

  • Select your age below
  • Take the Harp Replacement
  • Instantly see if you qualify and start saving!

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Average monthly savings from http://www.freddiemac.com/finance/pdf/RefiReport2013Q3.pdf State of the Union transcript -http://www.whitehouse.gov/the-press-office/2012/01/24/remarks-president-state-union-address. Further information for this can be found at http://www.nytimes.com/2011/08/21/realestate/exploring-the-15-year-loan-for-refinancing-mortgages.html

Under provisions of the Making Homes Affordable Act(a.k.a. HARP 2.0), signed into law by President Obama, Fannie Mae has removed certain loan refinance requirements for qualifying loans including the Loan-To-Value (LTV) ceiling for fixed-rate mortgage, property appraisal, minimum credit score & credit check, and eliminated & lowered certain fees for borrowers making it easier to refinance into a lower rate mortgage, effectively reducing the amount of interest paid (and owed) over the life of the loan.More info: http://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Fannie-Mae-and-Freddie-Mac-Announce-HARP-Changesto-Reach-More-Borrowers.aspx

A shorter term mortgage enables such borrowers to pay down the amount they owe much faster than a traditional 30-year mortgage. Furthermore, interest rates on shorter term mortgages usually are less than on thirty-year mortgages. More information can be found at http://harpprogram.org/faq.php

The Making Home Affordable Program is set to expire Septemeber 2019 and is free http://www.makinghomeaffordable.gov/about-mha/Pages/default.aspx but standard refinance fees will still apply. http://www.whitehouse.gov/the-press-office/2012/02/01/fact-sheet-president-obama-s-plan-help-responsible-homeowners-and-heal-h. On a $200,000 loan, a homeowner in a 30 year fixed at 6.25% would end up paying the bank $443,316. That same homeowner, if they switched to a 15 year fixed at todays rate of 3.58% APR would own their home for only $250,779

https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Announces-Modifications-to-High-LTV-Streamlined-Refi-Program-and-Extension-of-HARP-Thru-12-2018.aspx