Do know if you qualify for President Obama’s "Making Home Affordable" Mortgage Refinancing and Modification plan? Do you know the eligibility requirements and where to start your search for a piece of this $75 billion plan? Well here is a great place.
Since details of President Obama’s housing plan won’t roll out until March 4, we thought we’d review what we know so far about qualifying for a refinance loan under Obama’s plan. To qualify, you must: Owe between 80-105% of your mortgage.An analysis of Zillow Q4 Real Estate Market Reports shows that 26% of mortgage holders, or 14.8 million homeowners, currently qualify to refinance.
And we begin this hour with the collapse of the housing. The Obama plan calls for $75 billion to help restructure millions of at-risk home loans. The plan would also enable millions of homeowners,
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President Obama announced a harp (home affordable Refinancing Program) stimulus, stuff designed to help financially struggling homeowners get affordable loans and lower their monthly payments. To refinance a mortgage or first approval for the change with low interest rates is easier to do than ever before, illness for almost every homeowner.
NEW YORK ( TheStreet) — President Obama’s expansion of the Home. But the expansion of refinancing activity will actually lower the government-sponsored mortgage giants’ risk. Not only will the.
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– PRLog — President Obama’s housing stimulus plan is designed to help distressed homeowners faced with financial hardships. This could enable house makers to save their homes from a possible foreclosure and save a lot of money if qualified for a federal home loan modification.
This mass refinance plan is intended to help millions of Americans benefit from low interest rates and consequently get lower monthly payments. The Obama refinance plan will help qualifying borrowers save hundreds of dollars a month and stimulate the struggling housing market and the economy in general.
Just small incremental changes to the Obama refinance program could mean big savings to homeowners who have been locked out of refinancing since the housing crisis began. You can get involved. See our article on How to Make HARP 3 Happen. Possible Changes if the Obama Refinance Plan is Implemented.
Announcing the plan in Arizona – a state especially hard hit by the housing crunch – Mr. Obama said that turning around the battered economy requires stemming the continuing tide of foreclosures.