HARP 2 IS HERE! Borrower saves $300.00 per month!!!
This week we closed on our first HARP 2 loan.  The borrower's property had lost significant value and the Homeowner's Association was a mess.  Despite all the challenges, we were able to save her $300.00 per month. 

WHEN DOES IT MAKE SENSE TO SHORT SELL?
When property values are going up 20% per year, and rents are going up quickly as well, one experiences regret over letting their home go during the bad times.  If someone has not missed a payment and short sells their home,  according to FHA guidelines, they are free to buy a new home right away.  Most people are unaware of this opportunity.   That means if you are upside down on your property, and you can't refinance, you can sell for less than your loan amount and buy something else for less taking advantage of current low interest rates.  FHA will allow you to buy a new property with only 3.5% down.

*These rates were obtained using information you provided and assume you have good credit and set up a tax & insurance escrow account. This is not a credit decision or a commitment to lend; credit is subject to approval. Monthly payment and interest rate are for illustrative purposes only and may vary based on borrower's credit score, actual closing costs and other variables. Additional programs may be available. Depending on your situation, mortgage insurance may be needed which could increase the monthly payment and APR. Monthly payment includes principal and interest only. Any other fees such as tax and insurance are not included and will result in a higher actual monthly payment.