Banks Don't Want You to Know About This Home Refinance Program

Set to Expire This Year, Government Refinancing Plan Continues to Save Homeowners Thousands

You're not alone if you were unaware of the Home Affordable Refinance Plan (HARP) introduced by the government in 2009. Millions of Americans are still not taking advantage of this program that could save them upwards of $4,500 dollars each year. HARP is being hailed as the bailout for the middle class. But with the federal program set to expire at the end of 2016, there's not much time left to take advantage of this great opportunity. Banks are desperately hoping that more Americans don't find out about HARP.

[Click here to calculate your new house payment and see if you qualify from our lenders]

Homeowners using HARP have been able to eliminate up to 15 years of mortgage payments thanks to the way it allows them to refinance their balance. The best part is, once you've successfully signed up, you're signed up for good. So if you think holding on to a few hundred extra dollars a month sounds nice, you should click here to see if you qualify now.

The benefits of refinancing with the best mortgage rates have been spoken about by trusted financial professionals like Suze Orman, Dave Ramsey, and Jim Cramer. With HARP, it's easy to qualify for lower mortgage rates, even by taking advantage of rates offered by lenders other than your current holder. Plus, if your mortgage balance is under $625,000 your chances of qualifying for HARP could be very good.

The banks that hold these mortgages are hoping the middle class doesn't find out about HARP, because for each homeowner that enrolls in the program it would cost them an average of $290 per month for the first year. Not only are homeowners saving money every month, but many are even able to shorten their repayment term. That's money that could be put towards home improvement, current debt, education, or even a vacation. Ultimately, that's cash going back into your pocket and out of the hands of the banks.

The power is being shifted from the banks to homeowners, but this opportunity won't last much longer. That's why the federal government is urging homeowners to apply now before it's too late.

How do Homeowners apply?

There are a few places that will compare mortgage rates for homeowners and allow them to choose the best rate. RateMarketplace, one of the country's largest and most respected refinance comparison websites, is one of the few companies with HARP lenders in its network. With RateMarketplace, you could reduce your loan term and lower your payments at no cost to you. Simply input your information to find out if you qualify for HARP, and just how much it could save you.

[Could you be saving with a lower house payment? Click here to find out]