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HARP Refinancing Up in Fourth Quarter
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
HARP Refinancing Up in Fourth Quarter
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
HARP Refinancing Up in Fourth Quarter

March 7, 2011 (Jeff Alan)
mortgage-harp-image
According to the Federal Housing Finance Agency’s (FHFA) Foreclosure Prevention and Refinance Report, the number of loan refinancings processed through the government’s Home Affordable Refinance Program (HARP) grew by 30 percent in the fourth quarter of 2010. A total of 57,000 mortgages were refinanced under the government program during the month, well exceeding the previous monthly record of 45,000 set in September.

HARP is designed to help homeowners refinance their mortgages when they might otherwise not be able to do so due to a lack of equity in their property. The program allows borrowers to refinance mortgage debt up to as much as 125 percent of their current home value, enabling “underwater” homeowners whose property values have declined to take advantage of lower interest rates. The program is limited to mortgages backed by government-owned lenders Fannie Mae and Freddie Mac.

While refinancings soared in the fourth quarter, the number of completed loan modifications fell 18 percent, making it the second consecutive quarterly drop. Of the loans modified in 4Q, nearly half had their monthly payments reduced by at least 30 percent.

The Obama administration launched the program two years ago and it was originally projected to help between 4 and 5 million homeowners refinance their mortgages. But like its sister program HAMP, it has fallen far short of its goals with nearly 622,000 mortgages having been refinanced thus far.

The program is scheduled to expire on June 30 but some industry advocates like the Mortgage Bankers Association have sent a letter to FHFA asking that the program be extended.

FHFA cited record low interest rates during the fall as a major factor in the increased refinancings. Mortgage interest rates reached an all-time record low in October of 4.23 percent on a 30-year fixed-rate mortgage. Refinance activity typically trails interest rates by one to two months, according to the FHFA, because of the time needed to close loans after borrowers lock in rates.

Tags: FHFA, HARP, refinance, refinancings, mortgages, home equity, current home value, loan modifications, HAMP, record low interest rates

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Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
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Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
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March 7, 2011 (Jeff Alan)
mortgage-harp-image
According to the Federal Housing Finance Agency’s (FHFA) Foreclosure Prevention and Refinance Report, the number of loan refinancings processed through the government’s Home Affordable Refinance Program (HARP) grew by 30 percent in the fourth quarter of 2010. A total of 57,000 mortgages were refinanced under the government program during the month, well exceeding the previous monthly record of 45,000 set in September.

HARP is designed to help homeowners refinance their mortgages when they might otherwise not be able to do so due to a lack of equity in their property. The program allows borrowers to refinance mortgage debt up to as much as 125 percent of their current home value, enabling “underwater” homeowners whose property values have declined to take advantage of lower interest rates. The program is limited to mortgages backed by government-owned lenders Fannie Mae and Freddie Mac.

While refinancings soared in the fourth quarter, the number of completed loan modifications fell 18 percent, making it the second consecutive quarterly drop. Of the loans modified in 4Q, nearly half had their monthly payments reduced by at least 30 percent.

The Obama administration launched the program two years ago and it was originally projected to help between 4 and 5 million homeowners refinance their mortgages. But like its sister program HAMP, it has fallen far short of its goals with nearly 622,000 mortgages having been refinanced thus far.

The program is scheduled to expire on June 30 but some industry advocates like the Mortgage Bankers Association have sent a letter to FHFA asking that the program be extended.

FHFA cited record low interest rates during the fall as a major factor in the increased refinancings. Mortgage interest rates reached an all-time record low in October of 4.23 percent on a 30-year fixed-rate mortgage. Refinance activity typically trails interest rates by one to two months, according to the FHFA, because of the time needed to close loans after borrowers lock in rates.

Tags: FHFA, HARP, refinance, refinancings, mortgages, home equity, current home value, loan modifications, HAMP, record low interest rates

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

March 7, 2011 (Jeff Alan)
mortgage-harp-image
According to the Federal Housing Finance Agency’s (FHFA) Foreclosure Prevention and Refinance Report, the number of loan refinancings processed through the government’s Home Affordable Refinance Program (HARP) grew by 30 percent in the fourth quarter of 2010. A total of 57,000 mortgages were refinanced under the government program during the month, well exceeding the previous monthly record of 45,000 set in September.

HARP is designed to help homeowners refinance their mortgages when they might otherwise not be able to do so due to a lack of equity in their property. The program allows borrowers to refinance mortgage debt up to as much as 125 percent of their current home value, enabling “underwater” homeowners whose property values have declined to take advantage of lower interest rates. The program is limited to mortgages backed by government-owned lenders Fannie Mae and Freddie Mac.

While refinancings soared in the fourth quarter, the number of completed loan modifications fell 18 percent, making it the second consecutive quarterly drop. Of the loans modified in 4Q, nearly half had their monthly payments reduced by at least 30 percent.

The Obama administration launched the program two years ago and it was originally projected to help between 4 and 5 million homeowners refinance their mortgages. But like its sister program HAMP, it has fallen far short of its goals with nearly 622,000 mortgages having been refinanced thus far.

The program is scheduled to expire on June 30 but some industry advocates like the Mortgage Bankers Association have sent a letter to FHFA asking that the program be extended.

FHFA cited record low interest rates during the fall as a major factor in the increased refinancings. Mortgage interest rates reached an all-time record low in October of 4.23 percent on a 30-year fixed-rate mortgage. Refinance activity typically trails interest rates by one to two months, according to the FHFA, because of the time needed to close loans after borrowers lock in rates.

Tags: FHFA, HARP, refinance, refinancings, mortgages, home equity, current home value, loan modifications, HAMP, record low interest rates

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS