Here are some of the information you need to know and read about prior to purchasing a home in San Diego county or Orange County!
Read more: Mortgage Rates Drop Ahead Of HARP Revival | Bankrate.com http://www.bankrate.com/finance/news/mortgage-rates-drop-ahead-of-harp-revival.aspx#ixzz1nw7hQspY
Mortgage rates drop ahead of HARP revival
HARP 2.0 is almost hereThe low rates and the buzz that lenders may soon start accepting refinance applications under the "real HARP" is attracting many underwater borrowers who are desperate to refinance but can't because they owe too much on their mortgages, says Rob Nunziata, president of FBC Mortgage in Orlando, Fla.
"We are taking reservations for HARP 2.0, so once it does come out they are going to be the first in line," says Nunziata, who has more than 400 "reservations" from homeowners who want to take advantage of the program.
The U.S. Department of Housing and Urban Development says about 50,000 mortgages were refinanced under HARP since the new guidelines came out. But mortgage professionals say that figure includes only borrowers who owed less than 125 percent of the value of their homes. That cap is expected to be removed by March 19, they say.
Borrowers rush to beat higher FHA fees
Basic mortgage documents
- Two years of W-2 forms and tax returns.
- Pay stubs for the past 30 days.
- Two months' worth of bank statements.
Read more: Mortgage Rates Drop Ahead Of HARP Revival | Bankrate.com http://www.bankrate.com/finance/news/mortgage-rates-drop-ahead-of-harp-revival.aspx#ixzz1nw9M0Hzd
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