Refinance Up to 200% of Your Home’s Value

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The government’s Home Affordable Refinance Program (HARP 2.0) is throwing out a bigger and better life-raft in an effort to help struggling homeowners.

If you have never heard of HARP or you have and aren’t really sure what it means, it’s a government program that’s designed to provide much-needed relief to homeowners hit painstakingly hard by the crumbling housing market.

Under the most recent HARP expansion, you may be able to refinance up to 200% of your home’s value and lower your monthly mortgage payment. This is really good news for homeowners who haven’t been able to qualify for refinancing in the past.

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Still not sure what all that means? Here’s an example: You’re a homeowner who currently owes $300,000 on your home, but it’s only worth $150,000. HARP can help lower your payment to today’s record low mortgage rates.

To be eligible for the program expansion:

  • Homeowners must have a home valued at less than their mortgage
  • The loan must be in good standing and owned by Fannie Mae (Use the Fannie Mae look-up tool to find out)
  • Homeowners must have good payment history over the last 12 months

The HARP program expires in 2013, so don’t wait around. Check your recommendation at to see if you qualify for HARP 2.0 and if you can lower your monthly mortgage payment now.

Think of it this way: All the money you could be saving on your monthly mortgage payment could be put toward something more exciting like a night out on the town, a mouthwatering steak dinner (with all the trimmings), or a luxurious trip to the Bahamas.

Your free home loan recommendation, home-value estimate and a copy of your most recent credit report are waiting for you right now at Do your financial situation a huge favor and check it out now.

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Krystal lives, works, and plays in the Detroit area and loves covering a variety of personal finance topics for the Quizzle Wire.