– There has never been a better time to refinance your home. That’s because of a little-known government program called the Home Affordable Refinance Plan (HARP). This allows Americans to refinance their homes at shockingly low rates, and reduce their payments by as much as $4,905 a year.
But here’s the catch – like most government programs, this is likely temporary. But the good news is, once you’re in, you’re in. If the thought of a lower payment, fewer years on your mortgage, and even taking some cash equity out of the deal is appealing, the time to act is right now.
A true middle-class stimulus package
This is unknown to many, but the Home Affordable Program is for the middle class. If your mortgage is $625,000 or less, you most likely qualify. Basically, the Government wants banks to cut your rates, which puts more money in your pocket (which is good for the economy). However, the banks aren’t too happy about this – here’s why:
You can shop several lenders, not just your current mortgage holder
Your home’s Loan-to-value (LTV) can be 80% to 125%
Good night America – View from Space
The glorious Canadian Rockies
Fastnet Rock (Ireland)
“A male atlas beetle” photographed by Will McGugan.
Majestic Niagra Falls, Canada
Whales on the deck of a whaler ship
Express Rail Link West Kowloon Terminus Hong Kong
A farmer returning home after a long day’s work – Yingcheng, China
The Grand Prismatic Spring in Yellowstone National Park.
Oil and water do not mix