Arizona Loaned

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    HARP 2.0 is Coming: Refinance your Underwater Mortgage in Arizona

    I’ve been getting a lot of questions lately on HARP 2.0 (Home Affordable Refinance Program), so I thought I would write a post to give a basic introduction to HARP 2.0. HARP 2.0 is a federal program that was announced in October by President Obama. It is designed for homeowners who purchased their homes during the housing bubble, but now find their mortgage underwater. Currently those people are unable to refinancing under existing programs due to the depreciation in their homes value. This is significant because up to half of Arizona mortgages are underwater. The original HARP program which allowed [...]

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    Fannie Mae is currently offering buyers up to 3.5% in closing cost assistance through October 31, 2011

    The HomePath property buyer must meet the following qualifications to be eligible: Buyers and/or selling agents (the agent representing the buyer) must request the incentive upon submission of initial offer. The initial offer must be submitted on or after June 14, 2011 and close by October 31, 2011. Initial offers made prior to the effective date are not eligible for the June 14 – October 31 incentive. The sale must close on or before October 31, 2011. No exceptions will be made to this deadline. Buyers must be purchasing a HomePath property as their primary residence to receive closing cost [...]

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    Hey, Arizona RE Agents: Fannie is Offering Closing Cost Assistance!

    Wow, this is some news! I’m surprised word hasn’t gotten out sooner. But to my credit, the program is only a week old. Now the question is, how do you get Arizona home buyers to take advantage? Do you think this could be a selling point for buyers on the fence? I do. With the news yesterday that housing starts were up 7.2% in March, I think it’s possible a program like this will add momentum to the market. Which I don’t have to tell you will be welcome news for all of us in the real estate industry, it’s [...]