More Refinancing Thanks to HARP

According to a new report from the Federal Housing Finance Agency, there are 53,758 borrowers owing more than 125% of what their home is worth that refinanced in June. The local Jacksonville moving specialists learned that that number represents almost five times the number of people that took advantage of the HARP program in the first five months of the year. An extra 24,258 who were less several underwater also refinanced. The All My Sons of Jacksonville moving team found out that to be eligible for the HARP program, homeowners had to be current on their mortgage with loans backed by Fannie Mae and Freddie Mac. Some lenders are also reducing principal on severely underwater mortgages. The local Jacksonville movers have refinanced about 422,969 loan through HARP this year, with over 400,024 in 2011. In Nevada, Arizona and Florida, over 80% of the loans refinanced through HARP in June were for homeowners who owed over 105% of the value of their home.