Hey Chicago – HARP Loans Are A Great Way To Refinance

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Elderly CoupleA lot of our Chicago clients have been asking us about HARP, the Home Affordable Refinance Program. It’s helped thousands of homeowners lower their interest rates and monthly payments, so why haven’t you heard about it? We thought we’d take a minute and explain the program, and how it can help you.

The HARP Loan program started in March of 2009, when the Federal Housing Finance Agency, in order to assist homeowners that are underwater on their mortgage loan, or behind on their loan payments, borrowers that were having foreclosure issues and were unable to work around their loans with the dropping values of homes, caused by the 2007 market correction. Those borrowers who had been current on their loans weren’t too happy, though, because they were making on-time payments on their homes, despite the higher rates and market issues. Then HARP 2.0 was initiated, allowing those homeowners who weren’t underwater on their loans to re-finance at better rates, in December, 2011. The HARP re-finance requirements changed, giving those homeowners who owed more than 125% the chance to refinance, without needing to obtain Private Mortgage Insurance. HARP also guaranteed that the mortgage lender was now not to be held for fraud on the original loan, which caused more lenders to sign up to lend through HARP. More often than not, The Home Loan Expert closes Chicagoland HARP loans without even needing an appraisal.

Now is the time to take advantage of the HARP program, with low interest rates available. Get yourself locked into a Chicago mortgage payment that you can afford. Call our Chicago office at (773) 770-4727 or visit www.thehomeloanexpert.com/newlook/chicago to apply online today. If your interest rate is not in the 3’s, you DEFINITELY need to talk to us TODAY. Nobody in Chicago makes it easier to refinance their home with a HARP Loan than The Home Loan Expert, Ryan Kelley.