No Equity - No Problem!

From: Steve N.
Sent on: Tuesday, February 5, 2013 9:58 AM

Fellow Turbo Networking Members;

Lack of equity seems to be the biggest hurdle keeping homeowners from refinancing today.  With mortgage rates at record lows, many homeowners are paying higher mortgage payments than they should have to.

Fortunately, there are now a number of refinancing programs available that make it possible for homeowners to refinance even with no equity:

HARP 2.0 (Home Affordable Refinance Program)
The Home Affordable Refinance Program (HARP) 2.0 allows homeowners to refinance at lower interest rates, even if there is no equity in the home. This program applies to current Fannie Mae and Freddie Mac mortgage customers. In addition, an appraisal is usually not required on the HARP 2.0. 12 consecutive months of on-time mortgage payments.

FHA Streamline Refinance
The FHA Streamline Refinance allows current FHA mortgage customers to refinance at lower interest rates, without an appraisal. This program is only available to current FHA mortgage customers who have 12 consecutive months of on-time mortgage payments.

USDA Rural Guarantee Streamline Refinance
The USDA Rural Guarantee Streamline Refinance allows current USDA mortgage customers to refinance at lower interest rates, without an appraisal. This program is only available to current USDA mortgage customers who have 12 consecutive months of on-time mortgage payments.

VA IRRL (Interest Rate Reduction Loan)

The IRRL allows current VA mortgage customers to refinance at lower interest rates, without an appraisal. This program is only available to current VA mortgage customers who have 12 consecutive months of on-time mortgage payments.

Contact me to see if you qualify for any of the above "No Equity" refinance programs.

Steven Nardin
Mortgage Advisor, PERL Mortgage, Inc.
[masked] Office |[masked] Fax |
4131 Okemos Rd Okemos, Michigan 48864
[address removed]
NMLS #:188816, MI:[masked], CA: CA-DOC188816


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