#MyRefi – HARP 3 Refinance Loan Program – Will It Help Tucson, Arizona Homeowners


 

By Joseph Small

HARP 3 Refinance Loan TucsonYou may have seen #MyRefi and were probably wondering what it is all about. #MyRefi was rolled out by The White House as a way to promote the Obama Refinance Plan with social media: Twitter, Google+, email, and Facebook.

In the official White House blog it states: borrowers with underwater mortgages can save significant amounts of money “if Congress acts” and implements a broader refinance program, expanding beyond the current programs that exist for borrowers with the HARP 2.0 Refinance Loan Program – loans owned by Fannie Mae and Freddie Mac prior to June 1, 2009.

By taking to the social media airwaves, #MyRefi aims to build public support for the President’s refinance plans and increase pressure on Congress to put the proposals into law. See chart on who HARP 3 will help: (click) HARP 3.

Click here to get HARP refinance loan rates.

The White House #MyRefi Page & Tools

HARP 3 tools

I have included at the bottom of this article a tool from the #MyRefi page that will show you the type of loan refinance program you might qualify for under the President’s plan. Take it for a spin and see what you think.

There are some basic criteria for the #MyRefi or HARP 3 refinance loan program:

  • Must have a private loan (your loan is not backed by Fannie Mae, Freddie Mac, FHA, or USDA).
  • Must be refinancing the mortgage for your primary residence.
  • Must have a mortgage less than $750,000.
  • Must have made your payments on time the last 6 months and have no more than one 30-day late payment in the past 12 months.
  • Must have a credit score that is above 580.

President Obama’s refinance plan is calling for a simplified application process, with no appraisals, no tax forms and less red tape. Sounds good so far – and it would help more responsible Tucson Arizona homeowners! The President’s refinance proposals are very similar to the HARP 2.0 refinance loan program, but it extends the outreach to help many more borrowers that have an underwater mortgage and cannot qualify under a HARP 2 refinance loan. Click here to comment on the White House blog site: Why Refi. And feel free to “LIKE” or “Tweet” this article. And I would like to hear your comments on this topic, so please leave one below..

#MyRefi tool


HARP 3 Chart

Plan to help homeowners refinance chart

Guild Mortgage Co. is a Direct HARP 2 Loan Lender. Joseph Small and his team at Guild Mortgage Company is your trusted source for all your HARP refinance loan needs in Tucson, Phoenix, Sierra Vista, Sahuarita, Green Valley and Nogales, Arizona. Give them a call today! Maybe one day you too will say, “Joe’s My Lender!” (520) 303-5620


photo of joe's my lender google places page

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