Steps to apply for a HARP refinance program

If your home has a little equity, or if you owe more mortgage than your what home is worth, then it can be difficult for you to find a lender to refinance. HARP can be a one-stop solution for borrowers who have never made late payments against their mortgages and have loans owned by Freddie Mac and Fannie.

Home Affordable Refinance Program (HARP) was introduced in 2009 by the Federal Housing Finance Agency as a part of making homeownership affordable. It was introduced in 2009, and it enables borrowers with little or no equity to refinance into mortgages that are more affordable and do not require additional mortgage insurance.

HARP specifically targets borrowers who have a loan-to-value ratio that is less than or equal to 80 percent, and those who have limited or no delinquencies over a period of the year prior to refinancing. There are significant changes made to the program since it was first introduced. The requirements for property appraisal were waived under certain circumstances and risk fees for borrowers who selected shorter amortization, i.e., spreading payments over multiple periods, were eliminated.

Without requiring a minimum credit score, HARP lets you acquire mortgages with very low interest rates and change from adjustable to fixed-rate mortgages.

Once you qualify to refinance your home loan through HARP, you will go through a series of applications approval and closing process on your current mortgage. Outlined below are steps that will help you determine if the refinance program meets your specific needs. Here are steps to get started.

Step 1
Gather all your financial information such as mortgage statements such as second mortgage and your income details.

Step 2
Once you have gathered all your financial documentation, contact your mortgage company to check whether they have an approved HARP lender. Your lender might already have your loan file since you are their current customer. However, you might be asked to provide necessary information to verify the current source of income.

Once you have gathered all the information from your mortgage company, contact a HARP lender. You will find a list of approved HARP lenders on the official website. These lenders will help you determine if you are eligible for HARP.

Step 3
Once you have been approved, go through the application and closing process.

If a lender says you are not eligible for a refinance, contact a HARP specialist to find other ways that can make you eligible for a HARP refinance program.

    RECENT ARTICLE

  • When should you replace Baxi back boiler fires?
  • 11 symptoms of fibromyalgia
  • 3 best Black Friday deals on the DJI Phantom Series so far
  • 7 haircut suggestions for thinning hair

YOU MAY ALSO LIKE

  • Best options to consider in over range microwaves
    Selecting an over-the-range microwave is not an easy task; it requires striking a balance between aesthetics and functionality. You will want the device to fit in within the overall design of the kitchen along with providing all the features that you expect in any microwave. This is beyond matching the colors of the microwave to other appliances in the kitchen including the green rating and efficiency of operation. Why should you consider buying an over range microwave? Microwaves are household appliances, and every other household owns it. But these appliances are evolving at a fast pace, and today they are not just a simple device that people were used to a few years ago. The best microwaves are more powerful, compact, and versatile than before and include features that were unimaginable in the past. The over range microwave is a very convenient appliance for a modern homemaker, particularly those with confined space at the kitchen counter. It combines the latest technologies of the microwave with the functionality of the ventilation hood for the cooktop. They perform the tasks of cooking, melting, defrosting, popping and in some high-end models, it can also do roasting and baking. Best models of over range microwaves to consider The over the range microwaves are equipped with sensor-operated cooking options, which make your task much simpler. If you are willing to reap the benefits of over the range microwaves, here are few options to consider: Kenmore Elite: This model is empowered with the highest amount of power in a single lineup with a massive 1,050 watts along with a roomy interior of 1.8 cubic feet. This model also comes with sensor cooking, but generally functions like a second oven with its ability to cook in convection. You can rest assured with this option as the manufacturers offer a long warranty of five years. The sleek design and the wide array of features earn it the recognition of the best rated over range microwave. Electrolux E130BM60MS: The power capabilities of this microwave are slightly lower than Kenmore Elite, but it is also on the higher side with 1,000 watts. The interior space is also 1.8 cubic feet, which allow you to cook a significantly large amount of food at once. You can use it effortlessly for roasting and broiling with the aid of convection cooking or sensor-cooking options. When it comes to protecting your appliance, it offers a 10-year long magnetron warranty. KitchenAid KMHS120ESS: The 1000 watts cooking power and two cubic feet of interior space are the most important features of this over the range microwave. The magnetron is also protected by a 10-year long warranty so that you can use it without any troubles. The functionality and the myriad features of these three over-the-range microwaves make them the top-rated appliances as per general reviews and ratings.
  • Vinyl hot tub covers can be your right choice!
    Work stress and everyday commitments can leave you physically drained out. Especially after a long day at work, the only thing you would want is to relax. This is the reason why spas have become quite popular, but what if you had your hot tub at home? Wouldn’t it be great to come home and give yourself an ultimate relaxation by taking a warm water bath in your very own hot tub? Most hot tubs come with hot tub covers, but to improve the efficiency of your hot tub, you need to understand the importance of hot tub covers. Why does a hot tub need a cover? Hot tub covers mainly serve the purpose of protecting the hot tub from any debris or dirt as well as to prevent heat loss from the tub. These covers also ensure safety by preventing hot water from causing any harm to children or pets. The material of the hot tub covers defines its durability as well as the efficiency of your hot tub. In most cases, you would get insulated covers whether you opt for wood, vinyl or aluminum. The vinyl hot tub covers have gained wide acceptance for their ease of use and also because it is easier to maintain these covers. But yes, one thing that needs to be given priority is to purchase thick covers as they are efficient. The fact is that hot tub covers are unlikely to last longer than your hot tub, so it is evident that you may have to replace them. But when you are choosing new covers, make sure you opt for materials that offer you protection against sunlight as the covers are most often exposed. In this regard too, vinyl covers can give you a great advantage.
  • Learning the signs of an ectopic pregnancy
    While pregnancy is one of the best times in the life of a woman and an expecting couple, there are a number of situations and medical conditions that can mar this momentous occasion for some. An ectopic pregnancy is one such complication that can create problems for the expecting lady. Let us find out more about detecting one with the various signs and symptoms that it shows. In case you find any of these signs and symptoms, you must visit your doctor instantly for a proper diagnosis and timely treatment. What is an Ectopic Pregnancy To begin with, let us understand what an ectopic pregnancy really is. What we all know is that for a pregnancy to actually happen, the ovary has to release an egg which is fertilized by a sperm. This fertilized fetus then attaches itself to the uterine lining or the womb and then the pregnancy begins. In an ectopic pregnancy, the fertilized egg gets implanted in the fallopian tubes, in which case there is a lot of risk for the mother. This can happen in the early weeks of one's pregnancy. Such a pregnancy has to be terminated so that the mother is safe and ready to try for pregnancy again. Vomiting Nausea and vomiting are some of the greatest ectopic pregnancy symptoms. This usually happens because the fallopian tubes feel choked and the toxins release a lot of acidity. The patient will also usually have many bouts of vomiting in order to throw out the toxins and also to deal with the hormonal imbalances at this time. Pain in the Abdomen When the fallopian tubes are choked and the pregnancy does not happen in a natural manner, this can cause a lot of pain in the abdomen and stomach region, as the entire area will be affected. This can also give rise to infections if not treated on time. Light dizziness in the head and even fainting spells can be caused by the sharp and acute pain in such cases. Movement in this region and straining of the muscles of this region can also give rise to this kind of pain. Fatigue Owing to all the hormonal changes as well as the pain and light-headedness, the patient may also feel an inordinate amount of fatigue which will hamper the way the patient functions throughout the day. Light Bleeding The patient will also go through some amount of bleeding because of the strain caused to the tubes and the implantation of the fertilized egg. In such cases, the doctor must be contacted immediately. This kind of vaginal bleeding can also point at a shock because of the unnatural implantation in the tubes. Pain in the Vaginal Area General pain in the vaginal area might be experienced by the patient during sexual intercourse and other related activities as well as a pelvic exam. Prolonged pain of this nature is one of the signs of such a pregnancy and must be dealt with appropriately by the doctor who will recommend termination of the pregnancy.
  • Newegg – Things you should know about!
    Everything today is digital. We are driven by technology in various forms in today's world. And it doesn't seem that this culture will ebb anytime soon. In fact, digital has become synonymous with growth in all areas of life. However, the problem with technology is that it becomes obsolete as quickly as it gains popularity. It becomes imperative, then, for it to be constantly upgraded. This also makes it necessary to have a trusted source from which we can buy the latest, most updated and reliable gadgets. Newegg is an online retailer company, founded in 2001, whose forte is computer hardware and consumer electronics. It is currently considered as one of the best e-commerce portals for electronics. In 2010, they were ranked 12th largest electronics dealer by TWICE and Stevenson Company. Newegg has a plethora of products in their arsenal. They deal in computer software, laptops, hardware, peripherals, household electronics, gaming, accessories, tools, office products, DVDs, housewares, appliances, and furniture and much more. The best part about Newegg is that they understand their client base perfectly. They launched different websites in different languages for its international market in different countries. They have their markets in the United States, Canada, China and Taiwan. Their websites are Newegg.com (United States) Newegg.cn (China) Newegg.ca (Canada) Newegg.com.tw (Taiwan) NeweggFlash.com”Newegg's "deal of the day" website for customers in the United States GameCrate.com”Video Game Reviews, News, and Trailers. NeweggBusiness.com”for SMBs, corporations, resellers, government institutions (federal, state, local) and non-profit organizations. For United States customers. Nutrend.com”Newegg's automotive product brand ABS.com”Newegg's IT systems integrator brand Rosewill.com”Newegg's computer peripheral brand If you go through the list, one of the most eye-catching websites which they have is www.neweggflash.com. The website is exclusively for the United States and provides Newegg coupon codes on a daily basis. This website offers amazing discounts and offers on all its products, along with express delivery and free shipping options. Newegg also provides promo gift cards along with their offers, which the customers can redeem on a latter purchase. Easy return policies, EMIs, and other options are also available for improving the customer experience. If you are one of those who is worried about shopping electronic items and computers online because you feel it might be risky or because of a bad experience, then it just might be the time for you to try out Newegg. With the growing trend of online shopping, along with so many facilities available, the traditional way of shopping is becoming obsolete. So, if you have to start shopping online either today or tomorrow, why not do it with someone who is trustworthy. Shopping with Newegg might just change your opinion about online shopping.
  • Saved by the car title in tight financial times
    Did you know that you could get a loan even if your credit history is bad, or you have a huge stack of unpaid cards, or no money in the bank? All you do need is to own a car, and be willing to part with the paper vehicle title and use your vehicle as collateral, as well as allow the store or agency lending you the money, to place a lien on your car for the duration of your loan agreement. How much money you can get as a loan depends on the worth of your vehicle. Generally speaking, a lender will be willing to lend up to half the car value “ as in, the resale or Blue Book value of the vehicle. Some lenders may be willing to give you even more than fifty percent of the car's resale value. The other factors that are taken into consideration when determining your loan amount are the amount you need and your ability to repay the loan as per terms. You must have insurance on the car in order to get a car finance or car title loan in most states in the U.S. And of course, the car in question must be fully paid off and belong to you “ which means that the title must be in your name and lien free, with no other pending loans or payments due against it. Lenders will require you to furnish a government issued identification, proof of income which is most cases means some sort of employment related documentation, proof of residential address (usually with a piece of US postal mail addressed to you), and car registration papers, in addition to the car title. The terms of the loan agreement, including the amount of interest charged, the amount due at the time of closing out the loan, and the number of times you can roll over the loan, are all also regulated and determined in advance. Interest rates for car title loans tend to be higher than other types of credit, starting at around 35 percent and sometimes even going up to 100 percent. Different companies may of course offer different terms, and you can do the research as well as loan application for a car title loan online, or go into a store that engages in this business. What happens if you cannot repay the loan in time? Well, that means your car gets taken over by the company, which has the right to sell off your repossessed vehicle to recover the amount it has loaned you and the interest.
  • What are the treatment options for managing osteoarthritis
    A degenerative joint disease, osteoarthritis (OA) is a chronic condition which affects the joints of an individual. This happens because the cartilage protecting the ends of the bone wears out. It estimated around 27 million people in the country suffer from this disorder. It can occur in any joints, but it typically ends up distressing areas like knees, lower back, neck, big toe, etc. This condition is more likely to develop in individuals who are over the age of 65. Some of the primary symptoms of osteoarthritis are stiffness, discomfort especially after some physical activity and swelling around the affected joints. Initially, these signs may not be that obvious, but they will develop in time and show up suddenly. The pain caused by OA can be extremely uncomfortable as it can disrupt you while performing even the simplest routine chores. Osteoarthritis has no cure. Therefore, it is crucial to receive an accurate diagnosis for this condition and get proper osteoarthritis treatments. After getting diagnosed with OA, doctors will treat this condition with a combination of medicines. This can comprise oral pills, syrups, topical creams, injections, etc. Some of the most common types of medications used for osteoarthritis treatment are
    • NSAIDs Nonsteroidal anti-inflammatory drugs are designed to relieve symptoms like inflammation and pain. For osteoarthritis, doctors can recommend ibuprofen, naproxen, aspirin, celecoxib, etc. These can be either prescribed by your specialist or can be bought as an OTC medication.
    • Hyaluronic acid This is a type of acid which is naturally produced by the body that helps keep the joints lubricated and acts as a shock absorber as well. When the osteoarthritis occurs, there might not be an adequate quantity of this joint fluid which leads rubbing of bone joints, with ensuing pain and swelling. Doctors can externally inject hyaluronic acid in your joints to minimize the discomfort.
    • Analgesics These forms of medications are painkillers, some of them are available via prescription, and some are sold as OTC drugs.
    • Corticosteroids These are strong anti-inflammatory medicines which are taken orally or are injected into the affected joints.
    It is important to note that medications for osteoarthritis treatment, especially prescription medications must be taken under the supervision of the doctor. A therapist can also help you manage the condition of OA. Some of their techniques involve ways to correctly use joints, hot and cold therapies, special exercises to improve flexibility and assistive devices to encourage movement such as canes, shoe orthotics, scooters, splints, walkers, etc. Specialists can use corrective surgery in cases where the symptoms have worsened over time and affected the patient's mobility.