You may have heard by now of the amazing Obama refinancing opportunity. The words have been buzzing around the internet for a while now. What this is referring to is the Home Affordable Refinance Program that falls under the Making Home Affordable government agency created by the Obama administration. HARP refinancing allows you to refinance your home for a lower payment at a lower interest rate, even if you owe more on your home than it is currently worth.
If you are in a position where you need your house payments lowered in order to be able to keep making them and avoid foreclosure, you need to check into the programs offered by Making Home Affordable refinance. There are many ways you can get help with understanding and applying for these programs.
One way you can get help is to contact the HUD housing counselors. You can contact them through the HUD website or through the website for Making Home Affordable. These housing counselors can take some basic information about your situation and let you know whether or not you may qualify for a HARP loan or another MHA program. They will also be able to help prepare you for the application process, help you with filling out and submitting your application, and help you in following up the application to ensure your loan goes through smoothly.
Of course, you can also get information directly from MHA. Their website offers basic information about all of their mortgage assistance programs, including the HARP program. You can also contact them directly for assistance. Contacting Freddie Mac or Fannie Mae directly may also get you some valuable information about your options with your loans.
Another way you can get help is to contact your mortgage company. However, not all mortgage companies and loan servicers cooperate with these programs. If you are told that your company doesn’t participate in these programs, put in calls to other mortgage companies or firms like HARP Alliance. These independent companies may work with you to refinance your mortgage even though your current mortgage company won’t work with you. These companies can also give you valuable information about whether or not you are likely to qualify, and how to go about starting your application.
It may be a good idea to gather information from multiple resources. This way you can compare facts provided to you and make sure you are getting the whole picture. You should also shop around to different mortgage companies to make sure that you are getting the best finance option possible under the program. Gathering this information is part of your due diligence to ensure that you are not caught up by a scam artist or unaware of your options.
Check out also for Harp refinance