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The Home Affordable Refinance Program (HARP) was started in the spring of 2009. The primary goal of the program was to give an opportunity for homeowners who lacked the equity in their homes to refinance through traditional loan programs.   The original program had some restrictive features, so the second run of the HARP program (HARP 2.0) has been adjusted to make life a bit easier for the consumer. For example, they have capped the Loan Level Price Adjustments.  In simple terms, this makes it easier for a consumer to obtain a near market level interest rate. Another feature is to allow for higher loan to value limits (up to 125% LTV or higher).  Therefore, those with little equity or negative equity positions,  may be able to obtain a HARP loan vs being capped or restricted under traditional lending guidelines.  The last feature about HARP 2.0 is that the consumers can go to any participating lender to obtain a HARP refinance.  This creates competition for the consumer’s business and translates into lower rates, fees and faster turn times
Here is what you need to look for;
1.      The loan must have been backed by Fannie Mae or Freddie Mac
2.      The loan must have been “funded” prior to March 31st, 2009
3.      The loan must be current
4.  Re-Fi up to 125% or more of your current homes value
For More Information About This Exciting New Program Please Call Raj Qsar at 714-412-5019 or visit www.RajQsar.com

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