obama mortgage refinance program

These new initiatives replace HARP, the obama-era mortgage relief program, and can help middle-class Americans reduce their monthly payments by as much as $3,120 each year*. If you owe less than $625,000 on your home you may qualify for Freddie Mac’s Enhanced Relief Refinance option.

The Home Affordable Refinance Program is a federal program of the United States, set up by the federal housing finance agency in March 2009, to help underwater and near-underwater homeowners refinance their mortgages. Unlike the Home Affordable Modification Program, which assists homeowners who are in danger of foreclosure, this program benefits homeowners whose mortgage payments are current, but who cannot refinance due to dropping home prices in the wake of the U.S. housing market correction.

Providing Non-GSE Borrowers Access to Simple, Low-Cost Refinancing: President Obama is calling on Congress to pass legislation to establish a streamlined refinancing program. The refinancing program will be open to all non-GSE borrowers with standard (non-jumbo) loans who have been keeping up with their mortgage payments. The program will be operated through the FHA.

The HARP loan helps underwater homeowners refinance their mortgages. With all the changes to the program, read this article to learn if you qualify for HARP.

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The Home affordable refinance program (harp), also known as the Obama Refinance Program, was set up by the federal government in 2009 in response to the widespread collapse in home prices that had occurred as a result of the 2007-08 credit crunch.

WASHINGTON (MarketWatch) – President Barack Obama is expected to unveil more details Wednesday about a new sweeping mortgage-refinance program he first unveiled in his State of the Union. In the State.

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In early 2009, the Obama administration announced a program called Making Home Affordable. This program, also called the Obama Mortgage, is expected to help nine million homeowners keep their homes and avoid foreclosure through refinancing and modified loans designed to lower monthly mortgage payments.

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Use the refinance calculator to work out your potential savings. The realestate.com.au home loan products are funded by.