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Channel: California Home Affordable Refinance Program (HARP-2 and 3) For Underwater Mortgages» Shashank
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HARP FAQ #1 – What Occupancy Types are Allowed for Home Affordable Refinance...

If you are planning to apply for a California Home Affordable Refinance Program, but not sure what occupancy types are allowed for new HARP – read on. All occupancy types i.e. Primary Residence, Second...

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HARP FAQ #2 – How to Find Out if Fannie Mae or Freddie Mac Owns My Loan?

One of the HARP Loan Eligibility criteria is that your current loan needs to be owned/serviced by Fannie Mae or Freddie Mac. However, it’s not always easy to find if that’s the case. If you plan to...

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HARP FAQ #3 – Is There a Maximum Loan to Property Value Ratio (LTV) for HARP...

So you have no equity in your California house, worse still – you are actually upside down on your mortgage? You have tried refinancing in the past, but were turned down because of low or no equity in...

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HARP FAQ #4 – Are All Borrowers on Existing Mortgage Required To Be On The...

Borrower(s) may be removed through the California Home Affordable refinance (HARP) transaction, provided that The lender obtains documented evidence that the remaining borrower has been making payments...

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HARP FAQ #5 – Will The Lender Verify My Income, Employment and Assets for New...

Fannie Mae doesn’t expressly ask for Income, Employment or Asset verification for California HARP 2.0 Loans. Fannie Mae suggests that the lender must obtain a verbal verification of employment (VOE)...

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HARP FAQ #6 – Can I Be Late On My Mortgage and Still Qualify for HARP 2?

California Home Affordable Refinance Program (HARP) guidelines suggest that you can’t be late on your mortgage during last 6 months to qualify for this Government Program. Further, you can not be more...

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HARP FAQ #7- Can I Combine My First And Second Mortgage Into The New HARP...

If you currently have a first and second mortgage and want to combine the two into one loan with California New Home Affordable Refinance Program (HARP) – You can not do that. New HARP guidelines...

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HARP FAQ #8 – Are Appraisals Required For The New Home Affordable Refinance...

If you read one of my earlier blog posts about California Obama Government Refinance Program, you already know that this new HARP Program allows for unlimited Loan to Value (LTV) ratio. But the...

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FAQ #9 – Can I Get the New HARP Mortgage if My Current Loan Has a Mortgage...

1 word answer – Yes, you can get a California HARP 2.0 Loan if your current mortgage has a Mortgage Insurance (also called MI or PMI). However, there could be several possible scenarios to this and we...

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FAQ #10 – Are Only The Big Banks Approved to do California HARP Mortgage...

Big Banks or your current loan servicers are not the only ones approved to do California HARP Refinance for Upside Down and Underwater mortgages. There are lots of other mortgage lenders big and small...

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