Who Qualifies For HARP 2.0?
What Are the Benefits?
What Are the Guidelines?
What can and can’t HARP 2.0 Be Used For?
This and many more HARP 2.0 Refinance questions will be answered in this informative HARP 2.0 class.
Steve Fingerman
E Loans Mortgage
www.myloanmodificationstation.com
The latest version of the federal Home Affordable Refinance Program went into full swing this week.
The program, which officially began in December but wasn’t fully available until this week, now allows homeowners to refinance at today’s low interest rates if they are current on payments and hold loans on which they are more than 125% underwater.
The program is limited to homeowners whose loans are backed by Fannie Mae and Freddie Mac. That means no principal will be reduced, but it may be possible to get a lower interest rate and a lower payment. Homeowners who aren’t eligible for HARP may be eligible for other modification programs.
To get a HARP 2.0 refinance, homeowners must have taken out their loan before June 1, 2009. You can read all the guidelines here . The plan will be effect until the end of 2013.
You can apply for a HARP Refinance at E Loans Mortgage.
The previous version of HARP limited the refinancing to homeowners who owed less than 125% of their home’s value.
Economists believe putting more money into homeowners’ hands, through lower payments also will help the economy.
If you think you want a HARP refinance, you should move quickly. Mortgage rates have already started rising, so you want to lock in a low rate while you can.
What is a HARP 2.0 Loan?
HARP 2.0 Is A Refinance Program That Allows The Refinancing Of Homes Where The Mortgage Balance Exceeds The Value Of The Property.
The Loan Must Be Owned By Either FANNIE MAE Or FREDDIE MAC
The Loan Must Have Been Closed Before May 31st Of 2009
Loan To Values For Lending Purposes Can Go Up As High As 125%. In Other Words, You Can Be Up To 25% Negative In Equity And Still Qualify For A Refinance
Low Rates! The Maximum Loan Level Pricing Adjustments Are Only .75%. That Means Its Realistic To Achieve Today’s Very Low Interest Rates Which Nationally Are Averaging Below 4% For A 30 year Fixed Term. There is No Loan Level Pricing Adjustments On 10, 15, and 20 Year Terms
Condominiums Are Eligible! Condo’s Can Be Refinanced Under HARP 2.0 Up To 125% LTV
Property Inspection Waivers Are Available In Many Cases. This Means An Appraisal May Not Be Required At All!
For More Information About HARP 2.0 Or Other Mortgage Products Contact Us Today:
Steve Fingerman
President
4117 Mariner Blvd.
Hernando County Florida, 34609
Office 352-688-7949
Cell 727-946
Thank You Channel 10 News For Continued Coverage. FAIR is commited To Bringing Balanced Reform For Florida Home Owners. For Information On Joining The Class Action Please Click On the Citizens Class Action LawSuit Button At The Top Of The Screen.
E Loans Mortgage In Hernando County Florida, and Steve Fingerman will continue to fight for Florida Home Owners To Keep Home Ownership In Florida, I Proud To Be A Part Of This Action And Committed To Keeping Home Ownership In Hernando County and The Surrounding Tampa Bay Area Affordable.
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The 10 News Investigators have learned the group suing Citizens Insurance over its insurance practices will file more lawsuits Monday.
We’ve learned that group — FAIR — will be filing class-action lawsuits against private insurance companies Monday.
Those suits will go along with the cases they’ve already begun against Citizens.
The 10 News Investigators have been leading the way on this. Following reports by 10 News last fall, allegations surfaced.
The claims: insurance companies statewide are setting the replacement costs of some homes extraordinarily high — much higher than they should be.
That means the companies can charge you more to insure your house. The technique lets them make more money and dodge state laws that limit how much they can raise your rates.
That practice is what led the group FAIR — Florida Association for Insurance Reform — to the steps of the state Capitol last week.
FAIR announced it’s suing Citizens Insurance over the issue. Citizens is run by the state and backed up by Florida taxpayers.
PREVIOUS COVERAGE:
On February 7, 2012 FAIR announced a Class Action Lawsuit against Citizens Property Insurance. Attorney Mark Beausoleil, FAIR Regional Director David Welch, Steve Fingerman Board Member and President E Loans Mortgage Inc and Senator Mike Fasano, Announce FAIR’s Lawsuit against Citizens Property Insurance for their practices of inflating Replacement Cost Values and Overcharging Florida Consumers. Florida Association Of Insurance Reform Announced on Feb 7, 2012 A Class Action Lawsuit Brought Against Citizens Insurance by It’s Policy Holders at The Capital Building In Tallahassee
I have some exciting News To Annouce:
It’s not news that the Real Estate and Mortgage Industry both have seen their fair share of challenges over the past few years, but sometimes out of those challenges come exciting innovations and new ideas. With that said, it my honor and privlage to announce the launch of E Loans Mortgage Inc.
Through my many years of industry contacts I have built a strong network of Partner Wholesale Lenders and Service Providers who offer some of the best Mortgage Products available anywhere. By Leveraging These Contacts, we have been able to secure negotiated Mortgage Terms that will provide our Borrowers with some of the Best Rates and Closing Costs available anywhere.
We offer the following Mortgage Products:
The Team Here at E Loans Mortgage Inc is excited about the new opportunity to serve our borrowers, and it’s my personal belief that you wont find a better more educated team of Mortgage Professionals anywhere. Regardless if you are a First Time Home Buyer or a Seasoned Investor, rest assured we have a Mortgage Product to fit your individual needs. Being an independant Lender, E Loans Mortgage does not have to fit you into a specific box, this allows us the opportunity to custom tailor a Mortgage Plan designed to meet your specific financial goals and needs.
Humbly,
Steve Fingerman
President
4117 Mariner Blvd.
Hernando County Florida, 34609
Office 352-688-7949
Cell 727-946-0904
SAN FRANCISCO – California’s attorney general filed lawsuits against mortgage giants Fannie Mae and Freddie Mac on Tuesday, demanding that the companies that own some 60 percent of the state’s mortgages respond to questions in a state investigation.
Attorney General Kamala Harris, whose office filed the lawsuits in San Francisco Superior Court, is investigating Freddie Mac’s and Fannie Mae’s involvement in 12,000 foreclosed properties in California where they served as landlords. She also wants to find out what role the companies played in selling or marketing mortgage-backed securities.
The essentially identical lawsuits ask the mortgage firms to respond to 51 investigative subpoenas that call on Fannie Mae and Freddie Mac to identify all the California homes on which they foreclosed. They also want the mortgage firms to reveal whether they have information on the decreased value of those homes due to drug dealing or prostitution, as well as explosives and weapons found on those vacant properties.
“Foreclosures not only affect the families who lose their homes, but also the safety, health and welfare of the entire community,” the lawsuit said.
Harris also called on Fannie Mae and Freddie Mac to disclose whether they have complied with civil rights laws protecting minorities and members of the Armed Forces against unlawful convictions and foreclosures.
The suits also seek to determine whether the companies are in compliance with California’s securities and tax laws.
The companies were taken over by the federal government and put into conservatorship under the Federal Housing Finance Agency in September 2008 to save them from collapse.
An attorney representing the Federal Housing Finance Agency said in a letter attached to the lawsuits that the 51 subpoenas were “frequently vague and ambiguous,” and said state attorneys general did not have the authority to issue subpoenas against the federal conservator.
“The burden to collect that information would be nothing short of staggering,” the letter said.
Representatives of Fannie Mae and Freddie Mac said the companies would not comment on the lawsuits Tuesday.
The lawsuits could determine whether states have a right to investigate the mortgage firms while they are under federal control. Harris argues that since the mortgage companies own properties in California, they are subject to state law and demands.
Fannie Mae and Freddie Mac buy home loans from banks and other lenders, package them into bonds with a guarantee against default and then sell them to investors around the world. The two own or guarantee about half of U.S. mortgages, or nearly 31 million loans.
The companies have so far cost American taxpayers more than $150 billion — the largest bailout of the financial crisis. They could cost up to $259 billion, according to the FHFA.
Two former CEOs at Fannie Mae and Freddie Mac last week became the highest-profile individuals to be charged in connection with the 2008 financial crisis. In a lawsuit filed in New York, the Securities and Exchange Commission brought civil fraud charges against six former executives at the two firms, including former Fannie CEO Daniel Mudd and former Freddie CEO Richard Syron.
The executives were accused of understating the level of high-risk subprime mortgages that the companies held just before the housing bubble burst.
Harris has created a task force that is pursuing criminal charges and civil judgments in mortgage fraud cases. She has said that her office would not join a planned 50-state settlement over foreclosure abuses that federal officials and other state attorneys general are negotiating with major U.S. banks.
She said the settlement gave bank officials too much immunity from civil litigation.
Harris said 768,330 residential mortgages were foreclosed on in California between January 2007 and June of this year.
SAN FRANCISCO – California’s attorney general filed lawsuits against mortgage giants Fannie Mae and Freddie Mac on Tuesday, demanding that the companies that own some 60 percent of the state’s mortgages respond to questions in a state investigation.
Attorney General Kamala Harris, whose office filed the lawsuits in San Francisco Superior Court, is investigating Freddie Mac’s and Fannie Mae’s involvement in 12,000 foreclosed properties in California where they served as landlords. She also wants to find out what role the companies played in selling or marketing mortgage-backed securities.
The essentially identical lawsuits ask the mortgage firms to respond to 51 investigative subpoenas that call on Fannie Mae and Freddie Mac to identify all the California homes on which they foreclosed. They also want the mortgage firms to reveal whether they have information on the decreased value of those homes due to drug dealing or prostitution, as well as explosives and weapons found on those vacant properties.
“Foreclosures not only affect the families who lose their homes, but also the safety, health and welfare of the entire community,” the lawsuit said.
Harris also called on Fannie Mae and Freddie Mac to disclose whether they have complied with civil rights laws protecting minorities and members of the Armed Forces against unlawful convictions and foreclosures.
The suits also seek to determine whether the companies are in compliance with California’s securities and tax laws.
The companies were taken over by the federal government and put into conservatorship under the Federal Housing Finance Agency in September 2008 to save them from collapse.
An attorney representing the Federal Housing Finance Agency said in a letter attached to the lawsuits that the 51 subpoenas were “frequently vague and ambiguous,” and said state attorneys general did not have the authority to issue subpoenas against the federal conservator.
“The burden to collect that information would be nothing short of staggering,” the letter said.
Representatives of Fannie Mae and Freddie Mac said the companies would not comment on the lawsuits Tuesday.
The lawsuits could determine whether states have a right to investigate the mortgage firms while they are under federal control. Harris argues that since the mortgage companies own properties in California, they are subject to state law and demands.
Fannie Mae and Freddie Mac buy home loans from banks and other lenders, package them into bonds with a guarantee against default and then sell them to investors around the world. The two own or guarantee about half of U.S. mortgages, or nearly 31 million loans.
The companies have so far cost American taxpayers more than $150 billion — the largest bailout of the financial crisis. They could cost up to $259 billion, according to the FHFA.
Two former CEOs at Fannie Mae and Freddie Mac last week became the highest-profile individuals to be charged in connection with the 2008 financial crisis. In a lawsuit filed in New York, the Securities and Exchange Commission brought civil fraud charges against six former executives at the two firms, including former Fannie CEO Daniel Mudd and former Freddie CEO Richard Syron.
The executives were accused of understating the level of high-risk subprime mortgages that the companies held just before the housing bubble burst.
Harris has created a task force that is pursuing criminal charges and civil judgments in mortgage fraud cases. She has said that her office would not join a planned 50-state settlement over foreclosure abuses that federal officials and other state attorneys general are negotiating with major U.S. banks.
She said the settlement gave bank officials too much immunity from civil litigation.
Harris said 768,330 residential mortgages were foreclosed on in California between January 2007 and June of this year.
It was because he was going to retire anyway, lost a favorite port town in redistricting and had a tough race last time.
Was this really why Congressman Barney Frank announced today he’s retiring from the House of Representatives?
Perhaps another reason was he’s no longer chairman of the House Financial Services Committee and like a lot of bullies, Mr. Frank found it’s not easy to be stripped of the power to torment and humiliate others.
Mr. Frank’s departure in January 2013 will remove from the House one of its more offensive members. Until then, this petulant, abrasive and downright nasty Congressman will keep making his presence known.
However, it is unlikely that Mr. Frank is leaving for the reason he should depart Congress: out of shame for all he did to stop reform of Fannie and Freddie while there was still time to avert the disaster that almost took down the American economy.
In 2003, he called Fannie and Freddie “fundamentally sound financially” and accused the Bush Administration of trying to “exaggerate a threat of safety… [to] conjure up the possibility of serious financial losses to the Treasury, which I do not see.”
A year later, he said talk of financial problems at Fannie and Freddie were “an artificial issue created by the administration…I don’t think we are in any remote danger here.”
In 2007, as Chairman of the House Financial Services Committee and just as Fannie and Freddie – overleveraged and stuffed to the gills with risky mortgages they’d encouraged and facilitated – were about to go over the cliff, Mr. Frank attacked President George W. Bush’s call for reform as “inane.”
Yet when Fannie and Freddie went belly up in the fall of 2008, Mr. Frank voted for the same Bush Administration reforms that could have averted the bankruptcies of Fannie and Freddie.
Why did Mr. Frank oppose giving these two gigantic financial institutions the same scrutiny as a local bank, a neighborhood savings and loan or a community credit union?
Fannie and Freddie provided “grease” for the Democratic political machine through hundreds of millions in charitable contributions to left wing community and advocacy groups that are critical to Democratic get-out-the-vote efforts.
Fannie and Freddie hired vast armies of influence peddlers – admittedly from both parties, but mostly Democrats – to forestall any efforts at reasonable regulation.
Fannie and, to a lesser extent, Freddie, were led by Democratic political power brokers, masquerading as mortgage bankers while advising Democratic presidents, vetting Democratic running mates, and plumping the election hopes of Congressional Democrats.
Mr. Frank is incapable of feeling shame, regret or a sense of personal responsibility. These are emotions for lesser beings. He’s leaving because of redistricting or to avoid having to raise money or facing those nasty little voters every two years. The House will be a better place for his departure.
Karl Rove is a former senior adviser and deputy chief of staff to President George W. Bush. He is a Fox News contributor and author of “Courage and Consequence” (Threshold Editions, 2010).
This is the story of a soldier and his quest to bring his best friend to the US.
Sergeant Thomas Homan is trying to rescue “Lil’B” – an adorable puppy he found on the streets of Afghanistan.
Homan and the soldiers of the 1st Squad, 1st Platoon of a military police company are trying to send the pup back to the states, but the process is lengthy and extremely and costly. These soldiers think the pup is worth every penny. They consider “Lil’ B” a morale booster and a little piece of home.
Fox 29 spoke with Homan via Skype.
If you would like to help bring this puppy to the US, click here.
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