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If you are interested in participating in this program then you should get started now because, rest assured, as an industry we are going to very quickly become overwhelmed with applications and getting to the head of the line now will be much better option than being at the end of the line later. The refinance program is available today.
#Hasp mortgage refinance full#
If the free automated evaluation process does not provide us with the value needed to effect your refinance then you will have the option of paying for a full appraisal.
#Hasp mortgage refinance upgrade#
Other times the data being evaluated are not accurate, not reflecting a room addition, other major remodel or upgrade for example. Not all properties will work with these systems, however, as sometimes there is insufficient data to evaluate. Today, I just want to stick to the facts on the HASP.) The fact is that the HASP refinance program is a good program and it will reward those who have continued to make their mortgage payments on time by allowing them to refinance their loans at today’s low interest rates.Īdditionally, there is NO APPRAISAL REQUIRED if your property’s value can be identified through one of our automated evaluation methods. (More on that another day in a another blog.
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While this might initially appear to be stupid, especially when coupled with the idea of having no equity requirements (after all, wasn’t it those no income, no asset liar loans that got us in the mess in the first place?) The fact of the matter is NO! Those "liar loans," more correctly defined as "Stated Income, Stated Asset" loans, were not the cause of our current financial troubles. You must have excellent credit to qualify for this program, however, there is NO REQUIREMENT TO DOCUMENT YOUR INCOME OR YOUR ASSETS. This is a tremendous opportunity to obtain a permanent payment subsidy, every month, through lowering your monthly mortgage expense. Under the refinance program guidelines your primary residence, vacation/2nd home and investment/rental homes will qualify EVEN IF YOU HAVE LITTLE OR NO EQUITY! This is very important feature as, through this program, you can refinance your loan even if you owe more than the home is worth and you will NOT BE REQUIRED TO HAVE PRIVATE MORTGAGE INSURANCE. Loans That Qualify for the Refinance Program: Therefore, rely on me for the truth and please use my services if possible. That said, please understand, I am in the business of making loans and I DO want to assist you, your family friends and associates if I can. Rest assured that I will ONLY present you with the facts as I learn them and I will do my best to not SELL you anything in the process. It is even more important to understand the facts surrounding these programs because there is so much hype, misinformation and intentionally misleading information circulating that, frankly, it will be difficult for you to know the difference. It is important that you understand the difference between these two programs and how they will affect you. The HASP ( Home Affordability and Stability Plan) also known as " The Making Home Affordable" plan is a far-reaching program created to assist home owners with their current mortgages in two ways: If you own real estate or have a mortgage you should read this article as, in all likelihood, the HASP will affect you or someone you know and everyone NEEDS to know the facts. Please, take 15 minutes to read this article even if you believe that the HASP does not relate to you. Your understanding of how the program works and how it affects you is very important. Triad is pleased to announce its support of these Making Home Affordable Mortgage Programs.We are ready to roll-out the first phase of the HASP program. Under HASP, the Making Home Affordable Program was created to help millions of homeowners refinance or modify their mortgages through two program options: the Home Affordable Modification Program (HAMP), and the Home Affordable Refinance Program (HARP). Department of Treasury has taken significant steps to accelerate the recovery of the housing market, including the introduction of the Homeowner Affordability and Stability Plan (HASP). Homeowner Affordability and Stability Plan