HARP is a federal government program designed to help millions of underwater or upside down homeowners refinance into a fixed loan with
a lower monthly payment. It was rolled out in March 2009. However, on Oct. 24, 2011, President Obama announced an overhaul to the HARP Refinance Mortgage Program with the intent of reaching more underwater homeowners. The expanded HARP Refinance program – also called HARP 2.0 – is rolling out this month for borrowers with a loan-to-value ratio of greater than 125 percent.
What’s new with the New Jersey HARP 2.0 Refinance program?
- No underwater limits! Borrowers will now be able to refinance regardless of how upside down or underwater they are in their mortgages.
- There may be no appraisal requirements! Some homeowners may get appraisal waivers making their New Jersey HARP Refinance process smoother and faster.
- Certain risk-based fees eliminated! For borrowers who do the HARP Refinance and switch into shorter-term loans these fees will either be eliminated or modified.
Extended deadline!
- The end date to get a HARP Refinance has been extended to Dec. 31, 2013.
Hi,
ReplyDeleteHomeowners insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it. Homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets. Damage caused by most disasters is covered but there are exceptions. The most significant are damages caused by floods, earthquakes and poor maintenance. You must buy two separate policies for flood and earthquake coverage. Maintenance-related problems are the homeowners' responsibility.
homeowners insurance