Image courtesy of Stuart Miles at freedigitalphotos.net
If your mortgage on your home is more than it is worth, it may seem like it is impossible to refinance but it may be possible with HARP. The Home Affordability Refinance Program (HARP) which is slated to end on December 31, 2015 has gone through some enhancement. If you weren’t found eligible before, you may be now.
Saving on your mortgage can make significant strides towards financial freedom, so it is worth taking a look. HARP can help by lowering your monthly payment, reducing your interest rate, and securing a fixed-rate mortgage.
There are scammers out there so check with your current mortgage holder to see if they are a HARP-approved lender in your state. If not, grab a list of Freddie Mac and Fannie Mae HARP-approved lenders to discuss eligibility. Help under the HARP program is FREE so anyone who asks you to pay a fee for counseling services is scamming you. Go directly to the source http://www.harp.gov.
Please comment on the additional benefits of refinancing a mortgage.