Homeowners In For a Pleasant Surprise in 2016

Harp RefinancePhoto by: First State Bank

Breaking news straight from the mortgage market! The Government extends HARP (Home Affordable Program) into 2016, making millions of homeowners eligible for lower mortgage payments and lower interest rates.

For those that haven’t heard about HARP, it is a government program designed to help homeowners save hundreds of dollars each month by refinancing their mortgages – we wouldn’t be surprised if most banks hope you never learn about it. The program was set to expire on December 31, 2015, but it has recently been expended into 2016. More than 3.3 million homeowners have already taken advantage of this and now thousands more are still eligible.
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The decision to expand access to refinance was simple, the government wants to make millions of homeowners eligible, even if they are underwater. This not only helps individual families, but also boosts the economy by allowing homeowners to have more money to pay bills, spend in shopping, or afford college or a new car*. Most homeowners qualify for this program and the process is very simple. No tax forms and appraisals – just lower interest rates and lower payments each month. If you want to save hundreds of dollars each month and pay off your mortgage faster, you should act now. Don’t wait, as this stimulus program is set to expire soon (learn more on the next page).

5 Comments on "Homeowners In For a Pleasant Surprise in 2016"

  1. Claudette Meza | January 13, 2016 at 7:02 pm |

    As someone who recently got approved for a lower rate, I definitely agree with this post. All homeowners should take advantage of this program. It takes very little to qualify.

  2. We refinanced our home back in February 2010, but we kept watching the rates drop and drop. Finally, we decided to refinance with HARP at the beginning of this year and we were offered a ~3.75% for a 30 year fixed. Our monthly payments got $712 cheaper for original monthly payments of ~$2,000.00. Yipee!

  3. Can I simply say what a relief to uncover somebody that really understands Refinance.
    You definitely know how to bring an issue to light and make it important.
    More and more people really need to look at this and take advantage of refinancing.

  4. An impressive share! I have just forwarded this onto a
    friend who was conducting a little homework
    on this. And he in fact ordered me breakfast because I found it for him…
    lol. So allow me to reword this…. Thanks for the meal!!

    But yeah, thanks for spending the time to discuss this topic here on your blog.

  5. Hiǥhly energetic article, I liked that a lot. Will
    there be a partt 2?

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