Refinance Mortgage HQ » affordable refinance program http://www.ccnation.com Information on Refinancing Mortgages Fri, 24 Jul 2009 23:02:16 +0000 http://wordpress.org/?v=2.8.3 en hourly 1 Home Affordable Refinance Program (HARP) http://www.ccnation.com/home-affordable-refinance-program-harp/ http://www.ccnation.com/home-affordable-refinance-program-harp/#comments Wed, 08 Jul 2009 22:05:39 +0000 admin http://www.ccnation.com/?p=151 The Home Affordable Refinance Program has been put in place by the Obama administrations to help steer delinquent home owners away from foreclosures. The early results of the program that is believed to be able to help 4-5 million families in dire financial situations is bleak. There were 13,000 HARP refinancing cases for June. At this rate it will need 300 months or 25 years to provide help to these 4-5 million families, meaning it will not meet the aggressive goal set for June 2010.

http://www.washingtonpost.com/wp-dyn/content/article/2009/07/07/AR2009070702452.html

]]> http://www.ccnation.com/home-affordable-refinance-program-harp/feed/ 0 Subprime Refinancing Continues http://www.ccnation.com/subprime-refinancing-continues/ http://www.ccnation.com/subprime-refinancing-continues/#comments Mon, 06 Jul 2009 00:54:37 +0000 admin http://www.ccnation.com/?p=8 The new Home Affordable Refinance Program has increase the borrowing limits to 125% of current house values. Homeowners now have an option to borrow more or face foreclosure.

The 125% loan-to-value (LTV) encourages more borrowing from house owners who maybe already be underwater as compared to the original refi programs offered by Fannie Mae or Freddie Mac with a 105% LTV.

http://www.housingwire.com/2009/07/01/hud-expands-home-affordable-refis-to-125-ltv/

]]> http://www.ccnation.com/subprime-refinancing-continues/feed/ 0