If you are interested in saving a significant amount of money each month you should consider refinancing your mortgage through the Home Affordable Refinance Program (HARP). Over three million homeowners have already taken advantage of this government program that gives homeowners the opportunity to refinance even with little or no home equity.
Even though HARP has been around since 2009 there are still nearly 700,000 people who may be eligible for HARP savings. In the Chicago area alone there are over 42,000 loans out there that could reap the benefits of this refinance program.
Through HARP you can lower your interest rate, convert your adjustable rate to a more stable fixed rate loan, or even shorten your loan term to help build equity faster. There are a few key requirements in order to qualify for HARP: you must be current on your mortgage, your loan must be backed by Fannie Mae or Freddie Mac, and your current mortgage must have a note date of no later than May 31, 2009.
To learn more and to find out if you are HARP eligible don’t hesitate to contact me today!