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October 25, 2011

NEW “REFINANCE” PROGRAM APPROVED!! SAVE NOW!!

by billthemortgageguy

 

 

HERE YOU GO!!!

           GREAT NEWS!!!!!!!! 

 

 

 

 

 

 

 

 FHFA (Financial Housing Finance Agency) HIGHLIGHTS:

The new program enhancements address several other key aspects of HARP including:
 * Eliminating certain risk-based fees for borrowers who refinance into shorter-term
mortgages and lowering fees for other borrowers;
* Removing the current 125 percent LTV ceiling for fixed-rate mortgages backed by
Fannie Mae and Freddie Mac;
* Waiving certain representations and warranties that lenders commit to in making loans
owned or guaranteed by Fannie Mae and Freddie Mac;
* Eliminating the need for a new property appraisal where there is a reliable AVM
(automated valuation model) estimate provided by the Enterprises; and
* Extending the end date for HARP until Dec. 31, 2013 for loans originally sold to the
Enterprises on or before May 31, 2009.

 

DETAILS IN LINK BELOW:

http://www.fhfa.gov/webfiles/22721/HARP_release_102411_Final.pdf

 

 

 

 

 

 

 

 

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