Underwater? HARP 2.0 Refinance Program Can Help Atlanta Homeowner’s with No Equity

Atlanta, GA (Jan. 2012) – Atlanta has been hit hard by the housing market collapse. Outside of Florida, our market has taken the biggest hit in the southeast. Nashville has shown declines, Birmingham has their issues, but Atlanta has seen 30% decreases in home value since the peak. Check out the map, see for yourself…

What Now for Underwater Atlanta Homeowners?

There you have it, 30% drop in value. Some Atlanta neighborhoods have been hit harder than others. I live Intown Atlanta, I bought in 2006 and I am personally underwater. I understand.

So, I am in the mortgage business and my house is underwater. You’d presume that I have researched all the options, you’d be right.

Luckily, I have an ARM, the adjustable mortgage just reset to 3.125% so my payment just dropped. It’ll stay there as long as European an American economics look grim. In other words, it stay low for a couple more years.

Some people are more risk adverse then me, they went with a fixed rate. I understand that position. For those that purchased in 2005 and 2006 (like I did) with interest rates in the high 5% to 6% range never had the opportunity to refinance.Decliningvalues and tightening underwriting guidelines meant that the stars never aligned.

Fellow Atlanta homeowners, you just got thrown a lifeline. Enter the new and improved Home Affordable Refinance Program, aka HARP 2.0. Upside down? Underwater?

DOES NOT MATTER, NO EQUITY OT LOAN TO VALUE RESTRICTIONS WITH HARP 2.0

So, how do you qualify?

HARP, sometimes referred to as DU REFI+ or the Obama Refi plan, has some basic eligibility guidelines that potential refinance homeowners must meet

In order to be eligible for theHARPrefinance program :

1. Your loan must be backed by Fannie Mae or Freddie Mac.
2. Your current mortgage must have a securitization date prior to June 1, 2009
3. You have to be current on your mortgage.
4. You have to be located in Georgia, Florida, Tennessee, South Carolina or Alabama (to work with me, if you live elsewhere we can refer you to a HARP expert in your state)

If you currently have an FHA, VA, USDA or Jumbo loan you will not beeligible to participate in the HARP 2.0 refinance program. You may have other refinance options, but HARP is not one of them.

Not Sure if Your Eligible? Want to Know Other Options? Click!

Atlanta homeowners can also save with a FHA Streamline Refinance or VA IRRL if they have agovernmentloan. Some homeowners have no options, they have to stick with it or explore a short sale. We know the best short sale agents in Atlanta if that direction makes sense.

Are There Really No Loan-to Value Restrictions?

Yes, there are really no loan to value (LTV) restrictions! Even if you areridiculously underwater, so long as you meet theHARP | DU Refi Pluseligibility requirements outlined above you should be eligible to participate.

Even if you are currently at 200+% LTV you can still benefit fromObamas Home Affordable Refinance Program.Ready to see if you meet HARP Guidelines? Stop waiting, click below for aHARP 2.0consultation and we will let you know your refinance options.

Get aHARP Rate QuoteNow!

We also serve ALL points in-between. If youre upside-down or underwater and need help then have you covered.HARP, DU Refi Plus, HAMP, HAFAor even aShort Saleif need be. You have options other than foreclosure, you owe it to yourself to explore those options.

Get a Home Affordable Program Quote

If your looking to lower your mortgage payment you need to look at everything. Refinance options, interest rates, the assessed value of your property and your homeowners insurance costs.

One of the biggest surprises to me is the loyalty to a insurance provider. My mother is like that. She somehow thinks that the fact that she has been with a company for 20 years matters. Guess what, it doesn’t. In fact it is a license to charge you more if anything. You shop for mortgage rate, you haggle over home price, why would you do the same for you homeowner’s insurance and the assessed value of your property?