Harp refinance – honolulu’s most popular home loan

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HARP Refinance Honolulus most popular home
loan

• www.kmghawaii.com

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The Home Owner Affordability program is often
mixed up with the HAMP or the Home Affordability
Modification Program. Although both programs are
designed to help homeowners by lowering the
monthly mortgage payments there are distinct
differences between the programs. The banking
crisis fell upon us in 2007, which caused home
prices to declined significantly until 2012. The
steep decline left homeowners without equity and
unable to refinance to the lower interest rates.
The US Government decided to step in to ensure
homeowners were able to lower their monthly
payments regardless of their equity position.
Together with Fannie Mae and Freddie Mac, the
Congress introduced the HARP and the HAMP in
2008.
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The HARP is designed to help homeowners who
currently own more than then home his worth and
are making their mortgage payments on time. For
example Assuming you are a homeowner in Hawaii,
you can contact a local mortgage company and
receive home loan even if you own 200,000 on a
home worth 100,000. The HARP allows you to
refinance without the need for an appraisal even
if you are upside down. The following
qualifications must be met Your loan was
originated before May 31st, 2009 All mortgage
payments made on time in the last 12 months Your
loan is owned by Fannie Mae or Freddie Mac. Look
up your loan here Fannie https//knowyouropti
ons.com/loanlookup Freddie https//ww3.freddiemac
.com/corporate/
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The HAMP is designed for homeowners who are
unable to pay their current mortgage due
unforeseen circumstances, such as job loss or
adjustable mortgages. To qualify for the
HAMP, you must Currently be behind on your
mortgage payments You loan must be owned by
Fannie Mae or Freddie Mac Your mortgage must have
been originated before May 1st, 2009 To qualify
for the HAMP, contact the lender that is
currently servicing your loan. The contact phone
number will be located on your mortgage
statement. To qualify for the HARP, contact a
local Hawaii mortgage company. Kamaaina
Mortgage Group is a local lender located in
Honolulu and we lend in the entire state of
Hawaii. Our experiences loan officers specialize
in the HARP program and are available to qualify
you. Call our office today at 808-426-7661.
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KMG Branch Manager Brian Bender has the best
experience in Hawaii mortgage loan industry and
knows all the ins and outs of the business. He
educates and helps his clients on their options
for mortgage and home loan in Hawaii. Contact him
at Kamaaina Mortgage Group located in Honolulu
Today!