The Home Affordable Refinance Program(HARP) is available as an option for homeowners that have lost value in their home and are unable to get traditional refinancing. Due to the housing market decline, a lot of Americans are eligible for the Home Affordable Refinance Program.
Arizona was really hit hard when the housing bubble burst in 2008. Tucson, Arizona was among one of the cities in America that was hit the hardest. But thanks to a government program that is now available for homeowners, they are now able to refinance their homes at historically low rates. Homeowners should absolutely take advantage of this wonderful program.
Applying for this program would allow homeowners to refinance their home loan into a smaller percentage rate. If homeowners did this they would be able to use the money that they are currently paying on their mortgage to other debt.
Most banks offer the Home Affordable Refinance Program to their customers. When searching for who to refinance your home loan, you should keep a few things in mind. Remember to review the closing costs that are being given by each institution. They will vary a bit. You can save money immediately by taking closing costs into consideration. Also, be aware that some institutions charge a fee for what they refer to as “points”. The fee that you pay for the points will allow you to receive a lower interest rate on your home loan. Be sure that the amount that you pay in points will work out for you financially in the long run. You should always be concerned with the long term to avoid any possible financial crisis in the future.
All homeowners should take advantage of the Home Affordable Refinance Program. HARP Tucson is available to those customers in the Tucson area that qualify for the program. Make the decision today to apply for the program. The money that you are paying on high interest on your mortgage could be used in a variety of different ways. There is no reason to pay a high interest mortgage with HARP Tucson. You will be grateful in the future that you applied for the program.