The crazy real estate market impacted Arizona homeowners and hundreds of thousands of homeowners across the country. In effort to help homeowners that owed more on their mortgage than the value of the property, the government created Home Affordable Refinance Program, also known as HARP.
The one downfall to HARP was it had a major restriction – only homeowners that owed as much as 125% of the value of the property could refinance at a lower interest rate. That 125% restriction prevented many Arizona homeowners from taking advantage of HARP.
This year, the government released HARP 2. Basically, they eliminated the 125% loan value restriction. Now, no matter how upside down Arizona homeowners find themselves, HARP 2 may still be a refinancing option.
For more information about HARP 2 Refinancing, visit our Contact Us Page, or better yet, give us a call at 480-607-7906 or toll-free at 1-877-428-4344.