Posts Tagged with 000 a year

Now many Minnesota Mortgages can be reduced with Obama's New Plan.
Posted by Frank D'Angelo on February 17, 2012 in State Of The Local Real Estate Market


If you owe less than $729,000 on your mortgage and live in Minnesota, you may qualify for the new regulations and the Affordable Home Program. Under this new plan, the government is trying to force the banks to cut your mortgage payments by up to $12,000 a year…But not all banks want you to known this. Why? Because there are 2 Important Loop-Holes:

1. Most Minnesota Homeowners are Pre-Approved

2. Most Credit Types are Accepted.

President Obama passed yet another  new program called the Home Affordable Refinance Plan (HARP) that allows Minnesota residents an small window of opportunity to refinance their homes at all time low rates and also reduce the amount owing by as much as $12,000 a year.

The catch? There might be a small window of time for Minnesota residents to take advantage of this new regulation. Even consumers who may owe more than their home is worth should inquire into their eligibility. 

It is recommended to be proactive on this because it is not known how long this plan will exist for homeowners to refinance with these new rates and/or even take cash out of the equity in their home.



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Tagged with minnesota residents to refinance their homes at all time low rates and reduce the amount homeowners owe as much as 12 000 a year
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