HARP Program for Underwater Borrowers Extended

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The HARP program (Home Affordable Refinance Program) which enables underwater mortgage holders that are current on their mortgages to refinance at today’s low interest rates has been extended through 2015. The program had been scheduled to expire the end of 2013.

More than 2 million mortgage holders with little or no equity have used the HARP to date and obviously lenders and home owners alike welcome the news of an extension.

The program is available for those with loans backed or guaranteed by Fannie Mae or Freddie Mac which back approximately 2/3rds of all mortgages within the United States.

Both Fannie Mea and Freddie Mac are already responsible for losses if the loan that the entity backs default and the servicers risks actually decrease when borrowers that have paid on underwater mortgages can lower their current payment.

Certain criterion does exist.  The loans must have been sold to Fannie or Freddie no later than May 31, ’09. Those who have already used HARP to refinance a home cannot do so again.  To qualify, the mortgage holder must owe more than 80 percent of the current homes value.  No payments can be missed for the last 6 months.

Go to the Fannie Mae or Freddie Mac website to find out if you are eligible for HARP:

Fannie Mae:  www.knowyouroptions.com/loanlookup

Freddie Mac:  www.freddiemac.com/corporate

The latest version of HARP has seen great success due to certain changes that were made.  Appraisal requirements were nixed, lenders are provided better legal protections and the size limit of 125% of the home’s value was lifted.  The changes opened doors for additional HARP participants.

Nearly 3 milling underwater borrowers are still eligible for HARP.  The average savings from a HARP refinance is around $200 monthly with an average interest rate reduction of 1.75%.

HARP refinance

Attn First Time Home Buyers!! HUD HOME

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1219 S Cassia Place  Nampa, ID  83686

HUD home situated in a well-established community near services of all types and containing 3 bedrooms, 2 bathrooms and 1138 square feet! Interior features include a split bedroom design, plant shelves, vaulted ceilings, durable laminate flooring & a large master suite. The exterior is fully fenced with no immediate back neighbors & contains a cozy front porch, stamped concrete & garden space.  Priced at only $80,000—that’s only $70 per square foot!

The seller of this HUD home for sale may provide a closing cost credit of up to 3% to be included with the purchase of this home.

An approximate monthly payment for this HUD owned Nampa home for sale at the asking price of $80,000 while placing 3.5% down (3.5% interest rate—taxes and insurance(s) included) would be at or around $500.00  monthly—why rent?!?  **qualified 1st time homebuyers may be eligible for programs which offer $500 down payment options**

Please visit https://trustidaho.com/search/#PropertyID=58392373 to view detailed information and additional photos of this HUD home for sale.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interested in obtaining information on all HUD owned homes for sale?  I am happy to forward a list of available HUD owned homes within 24 hours upon obtaining your request.  Please call me at 208-869-3469 or send your request to:  [email protected]

Call today for additional information or to view the interior of this or alternate HUD  homes for sale!

**INVESTORS—call me now if you’re sick and tired of your hard earned funds sitting in non-performing stocks or low interest bearing savings accounts.  The time is NOW to invest in real property that will obtain at least $800 per month in rental income (not to mention future pricing appreciation).

HUD HOME FOR SALE

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1405 W Roberts Place  Nampa, ID  83651

HUD home containing 3 bedrooms, 2.5 bathrooms and 1,509 square feet  situated within a well-kept community near services of all types! Interior features include pre-finished hardwood flooring, granite, tile, vaulted ceilings, recessed lighting, rounded corners, crown molding & large bedrooms. The exterior is fully fenced w/RV parking, a front porch & durable vinyl siding. Priced at only $96,000—that’s $63 per square foot!

The seller of this HUD home for sale may provide a closing cost credit of up to 3% to be included with the purchase of this home.

An approximate monthly payment for this HUD owned Nampa home for sale at the asking price of $96,000 while placing 3.5% down (3.75% interest rate—taxes and insurance(s) included) would be at or around $600.00  monthly—why rent?!?  **qualified 1st time homebuyers may be eligible for programs which offer $500 down payment options**

Please visit https://trustidaho.com/search/#PropertyID=58392374 to view detailed information and additional photos of this HUD home for sale.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interested in obtaining information on all HUD owned homes for sale?  I am happy to forward a list of available HUD owned homes within 24 hours upon obtaining your request.  Please call me at 208-869-3469 or send your request to:  [email protected]

Call today for additional information or to view the interior of this or alternate HUD  homes for sale!

**INVESTORS—call me now if you’re sick and tired of your hard earned funds sitting in non-performing stocks or low interest bearing savings accounts.  The time is NOW to invest in real property that will obtain at least $850 per month in rental income (not to mention future pricing appreciation).

Clean & well kept HUD home!

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HUD HOME FOR SALE

11111 W Glendive Ave   Nampa, ID  83651

What a STEAL! HUD home containing 1836 square feet. 3 bedrooms, 2 bathrooms–situated on a corner lot and backing to the community park. Interior features include a gas fireplace, crown molding, hardwood entry (which you can keep clean with the best cleaner for laminate hardwood floors), central vacuum, recessed lighting, vaulted ceilings, ceiling fans, rounded corners, sizable bedrooms & a bonus/rec room. The exterior is fully fenced with mature landscaping and a covered back patio. Priced at only $135,000—that’s only $73 per square foot!

The seller of this HUD home has kept the property pristine by hiring janitorial services to come in regularly and clean the house, even while no one was living in it. Take a look for yourself! It’s in top condition. For the sale, the seller may provide a closing cost credit of up to 3% to be included with the purchase of this home.

An approximate monthly payment for this HUD owned Nampa home for sale at the asking price of $135,000 while placing 3.5% down (4.25% interest rate—taxes and insurance(s) included) would be at or around $900.00  monthly—why rent?!?  **qualified 1st time homebuyers may be eligible for programs which offer $500 down payment options**

Please visit https://trustidaho.com/search/#PropertyID=58390391 to view detailed information and additional photos of this HUD home for sale.

Interested in obtaining information on all HUD owned homes for sale?  I am happy to forward a list of available HUD owned homes within 24 hours upon obtaining your request.  Please call me at 208-869-3469 or send your request to:  [email protected]

Call today for additional information or to view the interior of this or alternate HUD  homes for sale!

**INVESTORS—call me now if you’re sick and tired of your hard earned funds sitting in non-performing stocks or low interest bearing savings accounts.  The time is NOW to invest in real property that will obtain at least $1000 per month in rental income (not to mention future pricing appreciation).