Federal Program Helps Homeowners Pay off Their Mortgage

Federal Program Helps Homeowners Pay off Their Mortgage

A forgotten mortgage stimulus program that was passed by Obama to help the middle-class Americans reduce their monthly payments by as much as $4,264 each year.The government has announced that this program will expire this year and is making a final push urging homeowners to take advantage of this program. If lowering your payments, paying off your mortgage faster, and even taking some cash out would help you, it is vital you act now. HARP is a free government program and there is no cost & no obligation to see if you qualify »

A Stimulus Plan for American Homeowners

 

If your mortgage is less than $625,000, your chances of qualifying for HARP could be high. The Government wants the banks to cut your rates, which puts more money in your pocket, ultimately boosting the economy.

 

However, the banks are not happy about this. Here’s why:

 

  • The program makes it easier to qualify for lower mortgage rates
  • You have the option to shop lenders other than your current mortgage holder

 

You think banks like the above? Rest assured, they do not. They would rather make more money by keeping you at the higher rate you financed at years ago. The middle class seems to miss out on everything, and jumping on this benefit is a no-brainer.

Why Should You Care?

 

  • The average monthly savings is $250. Could you use an extra $250/month?2
  • On top of the savings, many homeowners could pay off their mortgage faster.
  • Homeowners can even take cash out for home improvements, pay off debt, or pay for their children’s education.

 

 

Where Do I Start?

 

With hundreds of mortgage lenders and brokers available, it can take consumers hours to contact each one separately and request a quote. The good news is that there are services that could help you save time and money by comparing multiple lenders at once. One such service is ImproveMortgage.com, which is one of the biggest HARP lender networks in the nation providing consumers with a comprehensive set of mortgage options.

 

There’s no obligation to homeowners, and ImproveMortgage.com offers easy and fast comparisons. It takes about two minutes, and the service is 100% free. Find out what you qualify for today!

 

1 Here are all the supporting details: President’s Video; FHFA Press Release ; Fannie Mae Research: Over $100,000 savings estimate is based on $82 a week over a 30 yr loan from June 2007.

*In addition to other qualifications, the HARP program requires (1) a good repayment history (i.e. no late payments in the previous six months, and no more than one in the last year), (2) you must have taken out the mortgage loan before June 1, 2009, and (3) your loan must be owned by Fannie Mae or Freddie Mac, the two government-sponsored mortgage finance companies.

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