Who Needs a HARP 2.0 | DU Refi Plus?

The INFOGRAPHIC above clearly illustrates the declines in the housing market. Certain states and cities lead the way, these markets are prime for Obama’s Home Affordable Refinance Program, also known as HARP 2.0 or DU Refi Plus.

Underwater homeowners have a few options, they can REFINANCE via HARP 2.0 no matter what equity position they have, they can walk away (not the best option) or they can short sale their home.

Foreclosure is the worst option, if you go into foreclosure then you are destroying your credit, but you are also harming your friends and neighborhoods that live around you.

Don’t do it! Get educated, learn your options and how they will affect your credit, your future home buying potential and the values in you neighborhood (where your friends and family may live)

Which markets need the most help? In the Southeast it’s clear Georgia and Florida markets like Atlanta, Miami and Tampa need an underwater / upside down refinance loan. Other markets that can benefit from HARP 2.0 | DU Refi Plus Loan Programs? Clearly Las Vegas, Phoenix and California markets have underwater homeowners in need.

So which underwater homeowners qualify for Obama’s Home Affordable Refinance Program?

HARP 2.0 | Obama Refinance | DU Refi Plus Guidelines

First of all, you need a conventional Fannie Mae or Freddie Mac mortgage to even entertain the process. Just because you have a Fannie Mae or Freddie Mac mortgage doesnt not mean that you automatically qualify for aHARP refinance.

There are some other basic guidelines which will also determine youreligibility.

• Mortgage Payment History You must have been ON-TIME with your mortgage payments for the prior 6 months and have had no more than one 30 day late in the past 12 months.
• Minimum Credit Score Most lenders will require a 620 middle credit score to participate
• PriorHARP Refinances If you have used theHARPin the past you are not eligible to use it again
• Mortgages with Lender Paid MI Mortgages that have Lender Paid Mortgage Insurance (LPMI) are ineligible

So Why Should Georgia & Florida Homeowners Choose HARP | DU Refi Plus?

Compared to all of the government refinance programs,HARP 2.0has the potential help the most Florida and Georgia homeowners and save significant funds that can be put back into the economy.

There are many benefits to refinancing and shaving $300 – $1500 off of your monthly mortgage payment, provided you are committed to staying in your home for the next 15,20 or 30 years.

• School Zone – Great education, don’t want to uproot you kids. Use HARP to lower your mortgage payment!
• Family Live Nearby – Mom and Dad down the street? Want to stay near them? Use DU Refi Plus or HARP to keep your house.
• Love Your Neighborhood – Stay, lower your payment and live where you live.
• Hate Moving – Don’t, keep your house. Stay.

However, if you are not strongly attached to your property, it may be a better idea to consider a short sale now in order to give your credit enough time to heal before property values go back up.

Regardless, we have the refinance options you need and if a refinance is not what you want we have TONS of top Realtor connections who specialize in Short Sales.

Don’t destroy your credit with a foreclosure. It will drop you score a couple HUNDRED points. You’ll have to wait 3+ years to buy again with an FHA loan and FIVE years with a conventional Fannie or Freddie loan.

Do you want to be a renter for the next THREE years MINIMUM? Don’t, learn your alternatives. Click Below!