The Art of Living Better

Little-Known "Housing Loophole" Eliminates Up To 15-Yrs Of Mortgage Payments…

(TAOLB) – There has never been a better time to refinance, thanks to a little known government program that has helped homeowners save as much as $4,905 each year. Like most government benefits though, there’s only a small window remaining for when you can participate in this program.

Set to expire next year, there isn’t much time left for homeowners to benefit from this program. Homeowners still have a chance to qualify and the good news is once you’re in, you’re in. If lowering your payments, shortening your mortgage, and even taking some cash out would help you, it’s extremely vital that you act now before this once in a lifetime program expires.

The Little Known Benefits

Did you know that the Home Affordable Refinance Program is designed to help middle-class Americans? The Government wants banks to cut your rates, which puts more money in your pocket, ultimately boosting the economy. But the banks are not happy about this. Here’s why:

1. You have the option to shop lenders other than your current mortgage holder
2. Your home's Loan-to-Value (LTV) may be 80% to 125%

Banks will make more money if they keep middle-class Americans at the higher mortgage rate that they negotiated years ago. If your mortgage is less than $625,000, you could greatly benefit:

• Save as much $400 per month. Use your savings for retirement, college savings, or even a nice vacation.
• Pay off mortgage faster using the savings as extra payments or simply refi to a shorter term.
• Deferred payments – typically homeowners could defer one or two payments when you refinance.

How do I get these low rates?

With hundreds of mortgage lenders and brokers available, it can take consumers hours to contact each one separately and request a quote. The good news is that there are services that could help you save time and money by comparing multiple lenders at once. Services such as RateMarketplace™ has one of the biggest lender networks in the nation. What’s better is that they work with HARP lenders to provide consumers with a comprehensive set of mortgage options. RateMarketplace™ services are free to homeowners like you, and there’s no obligation to try. It takes about five minutes, and the service is 100% free. You have nothing to lose, except for your money problems!

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