HARP II has amended the original program in some incredibly beneficial ways for home owners:

• UNLIMITED LTV – Eligible home owners can refinance a first mortgage no matter how far upside down the home is.
• REDUCED COSTS – Some of the fees associated with HARP are to be reduced or eliminated, possibly saving $2,000 or more.
• APPRAISALS WAIVED – If sufficient data about your property exists the appraisal report will not be necessary. That alone is a cost savings of around $450

Quick Eligibility Check (complete the form on the right and we’ll let you know if you are eligible within 24 hours):

• 1st mortgage owned by Fannie Mae or Freddie Mac (we can look this up for you)
• NO late mortgage payments within the previous 6 months
• NO MORE THAN 1 late mortgage payment within the past 12 months
• 2nd mortgages must agree to go back in 2nd position

WHAT DO YOU NEED TO DO RIGHT NOW?

• Complete the Eligibility Worksheet on the right. This is NOT a loan application and will only take a few minutes to complete.

OR

• Call (509) 252-9151.  The info we need to determine your eligibility will only take about 5 minutes to get over the phone.

Left out of the prominent press releases is that THE FULL PROGRAM IS NOT AVAILABLE YET!!!  Initial guidelines were sent to lenders on November 15 and full implementation is not due until March of 2012!!

This program is NOT mandatory for lenders to offer to the public so there will be an inconsistent roll out by banks and lenders.  As a mortgage broker/banker I still have the ability to direct your loan to the lender offering the most flexible guidelines of HARP II.

…Those who complete the Eligibility Worksheet will be the first to know as soon as this program is available from the Lenders.