(Washington, D.C.) - Congress has replaced HARP, which helped over 3.3 million Americans reduce their mortgage payment, with a number of new programs including the Freddie Mac Enhanced Relief Refinance (FMERR) initiative, but the banks have been keeping this a secret!
When homeowners visit the FMERR website, they may be surprised to find out they qualify for a plan that offers them shockingly low-interest rates and reduced mortgage payments. These new initiatives replace HARP, the Obama-era mortgage relief program, and can help middle-class Americans reduce their monthly payments by as much as $3,120*.
If you owe less than $625,000 on your home you may qualify for Freddie Mac’s Enhanced Relief Refinance option. It’s hard to believe this program exists but after HARP helped more than 3.3 million U.S. households to refinance the government knew they had to step in with a replacement. This new program, or one of several other conventional refinance programs still could help hundreds of thousands – if only more homeowners would apply.
While the government has not announced an expiration date, who knows if this “beta” program will last past 2019. So, homeowners are urged to take advantage now. So if lowering your payments, paying off your mortgage faster, and even taking some cash out would help you, it is vital you act now.
It’s insane these programs aren’t talked about more often. For whatever reason, a lot of people think they are “too good to be true”. Even worse, some think the program is only for homeowners with bad credit or foreclosures. This couldn’t be farther from the truth. Homeowner programs are made for the average American. And having good credit could help you qualify for EVEN better rates or more cash!
If your mortgage is less than $625,000, your chances of qualifying for FMERR could be high.
However, the banks are not happy about this. Here's why:
You think banks like the above? Rest assured, they do not. They would rather make more money by keeping you at your current higher rate. The middle class seems to miss out on everything, and jumping on this benefit is a no-brainer.
Step 1: Select your state below and answer a few questions on the next page.
Step 2: Once you have entered some information about your home, you will be connected with lenders to find out which program you are eligible for and how much you could claim. It’s so easy and quick to put money back into your pocket!
Available in all states: