New program targeted to homeowners “underwater” on their mortgage
CHARLOTTE, N.C. (April 30, 2012) – Today’s interest rates are at the lowest levels in decades, and that means incredible opportunities for homeowners to refinance. But until now, many homeowners who are “underwater” on their mortgage have been unable to take advantage of low rates.
Thanks to the Home Affordable Refinance Program (HARP 2.0), Allen Tate Mortgage (mortgage.allentate.com) can now offer attractive refinance opportunities to many homeowners who owe more on their home than its current market value.
“The HARP 2.0 program is targeted to homeowners who want to reduce their mortgage interest rate and save money on their monthly payment, but haven’t been able to do so because their home has lost value in recent years,” said Chris Cope, president, Allen Tate Mortgage. “We’re excited about the number of homeowners who may now be able to refinance.”
Homeowners who meet the following criteria may be able to refinance with HARP 2.0:
- The mortgage must be owned or guaranteed by Fannie Mae or Freddie Mac. To determine if your loan is eligible, please visit www.fanniemae.com/loanlookup/ or ww3.freddiemac.com/corporate/
- The mortgage cannot have been previously refinanced under HARP.
- The current loan-to-value ratio must be greater than 80%.
- The mortgage must be current at the time of the refinance, with a good payment history for the past 12 months
Another attractive benefit of the HARP 2.0 program is that an appraisal may not be required, which saves the homeowner time and money.
For more information, contact Senior Mortgage Consultant Cathy Madden at 704-910-9052 or firstname.lastname@example.org, or any Allen Tate Mortgage Consultant or Realtor.
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As the leading real estate company in the Carolinas, Allen Tate Company offers Allen Tate Mortgage Services (ATMS), a full-service mortgage banker representing America’s top lenders. ATMS offers in-house loan processing and underwriting for ultimate customer convenience and satisfaction.
Allen Tate Realtors is the Carolinas’ largest real estate company with offices in the Charlotte, Triad, Triangle and Upstate South Carolina regions. Allen Tate offers the advantage of hometown service with international capabilities and the latest in real estate technology and maximum marketing exposure. Visit www.allentate.com for more information.