Posted on: 06th Sep, 2012 12:56 am
i have a mortgage on a property that i am supposedly occupying serviced by seterus inc. the mortgage balance is 112k at 7% not good i know. i owned this property for the past 8 years. just found out the terms are 10 years interest only then a higher principle and interest payment after that. now here's the deal, quicken loans called and mailed me info about a refinance. they are being really aggressive trying to get me into the harp. their terms are a 4.25% rate for 30 years, slightly lower payment. my scores are good 741, 762, and 781. what do you think?
Hi Guest,
You can go for HARP if you're facing problems in paying off the loan. Yes, it is true that your loan term will get increased but you should also consider the fact that your mortgage interest rate will reduce to a great extent.
Take care
You can go for HARP if you're facing problems in paying off the loan. Yes, it is true that your loan term will get increased but you should also consider the fact that your mortgage interest rate will reduce to a great extent.
Take care
It is to be noted that HARP program was introduced in the country to assist troubled borrowers in home ownership. The rate on the new mortgage loan may be lower and the term may be increased.
Hi Guest,
To know all about HARP, check out the given page: http://www.mortgagefit.com/problems/homeaffordable-refinance.html .
Thanks
To know all about HARP, check out the given page: http://www.mortgagefit.com/problems/homeaffordable-refinance.html .
Thanks
Shop around! Make sure you are getting the best deal possible.