Home Refinancing in Bergen County NJ with HARP

HARP refinancing in Bergen County NJ doesn’t have to be as impossible as it might seem. HARP stands for Home Affordable Refinance Program and has now helped thousands of families steer clear from foreclosure. But if anyone wants to qualify for the refinancing, there are some conditions that are required to be fulfilled. For example, if the value of your home has dropped you may be in a position to refinance through HARP considering that the program was created to allow homeowners to receive a new, more affordable, and more stable mortgage. Keep in mind your mortgage payments have to be up to date, and also you must be unable to get refinancing using standard avenues. Also, time is an important factor. The mortgage must have been taken over by a mortgage conglomerate on or before May 31 of 2009 and not have previously been refinanced with the program. However, there are a few exceptions to this. It is the responsibility of your mortgage broker to assist you in finding out whether you qualify as one of the few exceptions that can be made. The loan to value ratio or LTV needs to be substantial as well. Watch out for several things if you happen to be in a position where refinancing your home is necessary. If you don’t have someone you can look to immediately and still haven’t found the right mortgage company to refinance your loan then beware of people who could be out to scam you. The first consideration is the advice you receive free of charge. There should not be a fee involved for any type of consultation when you’re desperate to keep from losing your home and searching for mortgage modification. Stay away from promises of guarantees that are clearly more than what one can commit to. Keep in mind, promising to save your home and demanding a fee up front is not what legitimate HARP refinancing in Bergen County NJ is about. Mr. Diehl is a frequent author of articles about HARP refinancing in Bergen County NJ and other financial information.