Joe Knows Mortgages

When will HARP 2 be available in Florida?

Joe Harris — Thu, 15 Mar 2012 18:29:22 +0000

On March 17th, Fannie and Freddie will be updating their Automated Underwriting Systems (AUS) to reflect changes. These AUS's will determine what documentation is needed from the borrower, if the property gets an inspection waiver (no need for an appraisal) and what the actual terms of the mortgage may be.

Can I do a HARP 2 loan if I have a VA loan?

Joe Harris — Tue, 06 Mar 2012 23:44:16 +0000

If you currently have mortgage guarenteed by the VA, you are NOT eligible for a HARP loan. Your loan Must be owned by FANNIE MAE or FREDDIE MAC in order to be eligible for a HARP mortgage. However, the VA does have a Streamline refinance program called the IRRRL (Interest Rate Refinance Reduction Loan) that …

Can I do a HARP 2 loan if I have an FHA Mortgage?

Joe Harris — Tue, 06 Mar 2012 00:37:02 +0000

If you currently have mortgage backed by the FHA, you are NOT eligible for a HARP loan. Your loan Must be owned by FANNIE MAE or FREDDIE MAC in order to be eligible for a HARP mortgage. However, the FHA does have a Streamline refinance program that does not require an appraisal. If your loan …

Can I do a HARP loan if I currently have a second mortgage?

Joe Harris — Wed, 29 Feb 2012 22:55:27 +0000

HARP Question: Can I do a HARP loan if I currently have a second mortgage? The quick answer is – Most likely. Borrowers with a second mortgage, such as a home-equity loan (HELOC), need the mortgage owner to agree to “re-subordinate” the loan before refinancing the first mortgage. Federal officials say the largest lenders have …

Am I eligible for the HARP Loan?

Joe Harris — Tue, 21 Feb 2012 21:31:38 +0000

Am I eligible for the HARP Loan? As you probably already know, the Home Affordable Refinance Program (HARP) allows eligible mortgages to be refinanced, regardless of the homes current value. So even if you owe more on your home then it is worth, as many people in Florida do, you still may be eligible for …

What Is HARP?

Joe Harris — Mon, 20 Feb 2012 17:13:28 +0000

HARP stands for Home Affordable Refinance Program, and the original HARP program started back in April 2009. The program is also known as the Making Home Affordable plan, the Obama Refi plan, DU Refi +, and Relief Refinance. The purpose of the program is to allow those to refinance regardless of what they owe on …

Happy Holidays From The Morgan Financial Family!

Joe Harris — Fri, 16 Dec 2011 17:05:24 +0000

A holiday greeting from the Morgan Financial Family: Thank you for your role in making 2011 a great year! Merry Christmas, happy holidays, and we look forward to an excellent 2012!

The New HARP Program Could Help Millions- The Florida Positive Real Estate News

Joe Harris — Thu, 10 Nov 2011 19:28:13 +0000

It has been recently announced that there will be a new version of the HARP (Home Affordable Refinance Program) loan rolling out soon for american homeowners with a mortgage. The purpose of the new program will be to allow more people to refinance their mortgages into the current low interest rates. Here in Florida, the …

Florida Jumbo Loan – Positive Real Estate News

Joe Harris — Thu, 30 Jun 2011 13:32:42 +0000

The luxury or high end real estate market in Florida is seeing more action now than it has in the last couple of years. Jumbo loans are available in Florida.

Positive Real Estate News – “The Good Stuff”

Joe Harris — Tue, 03 May 2011 18:43:32 +0000

It is time to report on the positive real estate news here in Florida, and Brevard County. This is the way I see it, sales are up, and inventory is down – we are getting closer to an equilibrium that will lead to an increase in pricing. Here are links to some online articles mentioned …