St. Louis Mortgage Help

Help for Underwater Mortgages for Homeowners - The New HARP 2.0

November 4th, 2013 12:31 PM by Bob Rutledge

The HARP or Home Affordability Refinance Program has made a small but significant change that will help more homeowners in the St. Louis and St. Charles area, really all of Missouri, refinance their underwater mortgages. 


Harp was started in April of 2009, also known as the Home Affordable Refinance Program HARP is designed to allow responsible homeowners to take advantage of lower mortgage rates and payments, even if you owe as much or more on your home than it’s currently worth.

  HARP 2.0 is also known as DU Refi Plus, Open Access, the Obama Refinance Program, Making Home Affordable, The Obama Refi, A Better Bargain for U. S. Homeowners, and Relief Refinance.  

Key HARP Refinance Benefits:

  • Unlimited Loan-to-Value: this allows you no matter how underwater to refinance to a lower mortgage payment.
  • Lower Banking Fees and Interest Rates: homeowners can shop around for the best deal as opposed to being stuck with the bank/servicer that they are currently making their mortgage payments to.
  • Not Limited to Occupancy Type: Owner Occupied, Second Home, or Investment Property all can refinance with this program.
  • Less 'Red Tape': removing many of the red tape barriers of previous governmental refinance programs the HARP refinance is easy and fast.  

Basic HARP Qualification Requirements  

  • Current mortgage must be owned by Freddie Mac or Fannie Mae
  • Current Mortgage must have CLOSED on or before MAY 31, 2009
  • No late mortgage payments made in the most recent 12 months 

There are still many homes that are underwater with the value of their home currently being less than what they owe on their mortgage. Plus, they are paying higher interest rates than what's available today. Most would like to take avantage of the lower interest rate but simply cannot. A HARP refinance is helping many borrowers who owe more than what their home is worth.  

I am a Mortgage Loan Officer with USA Mortgage and I can help you if you are underwater and your interest rate is too high. I would welcome the opportunity to speak with you about your situation and how it can best be remedied. 

Want to Know More About HARP Refinance Program?

Before you call me or any lender I encourage you to learn as much as you can about the HARP 2.0 Refinance Program. Please visit my website as part of your process about learning more about this great loan program. Follow the link below to learn more, there I have a large section devoted to frequently asked questions. If you don't find it there please call me. Learn More about the HARP Refinance Prgram

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Posted by Bob Rutledge on November 4th, 2013 12:31 PM


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Bob Rutledge Mortgage

Loan Officer NMLS#: 297044

New American Funding 12321 Olive Blvd, ste 150
St. Louis, MO 63141