California Refinancing Expert Andrew Andreasen explains all about the revamped government program that provides refinancing options to homeowners who owe more on their mortgage than their house it worth called HARP 2.0.

Victorville, CA -- (SBWIRE) -- 09/04/2012 -- Help has finally arrived for California home owners whose property values have dropped over the past couple of years.

In order to lower costs of mortgage installments today and get a good fixed rate plan underway for repayment, many people are turning to the HARP Program. However, as new information appears on different web sites and lenders are applying their own internal rules, people are finding the documentation to be lengthy and somewhat confusing.

Many lenders are hesitant to exercise the full benefits of the new Home Affordable Refinance Program (HARP or HARP 2.0), also known as the Making Home Affordable Program. Some have limited the value at 125% LTV. Others will not accept credit challenges which result in approval levels called Expanded Approval Levels I, II and III. Some lenders will not refinance investment or non-owner occupied properties. Others will not refinance manufactured or other property types.

Have you been turned down for a HARP refinance by your current lender due to LTV (loan to value), occupancy, minor credit challenges, property type or because they cannot get an appraisal waiver? Don't give up! There are lenders that may accept yor loan.

Andrew Andreasen, a Victorville, CA 92392, California based mortgage consultant, has released a new web site at: http://andrewloans.net designed to remove the confusion about this latest government program and show how you may still be able to refinance even if your current lender has said no!

This new HARP 2.0 resource site shares details about the basics of this mortgage lending solution and answers questions like:

- What are HARP loans all about, in a nutshell – in layman's terms?
- What are the benefits of HARP loans?
- What kind of mortgage loans can HARP funds be used for?
- Do I qualify for the HARP program?
- What documents do I need to bring to the lender when I apply?
- And much more…

The new resource site showcases pages of information to help California borrowers realize that HARP loans are an ideal way for families with homes that have dropped in value to rebuild their investment, creating equity faster under a new structure.

HARP Specialist Andreasen, says "readily available and with low interest rates, these HARP loans are an exciting way for people to enjoy double savings with lower monthly mortgage installment loan payments and increased equity over the long term restructuring."

Andrew Andreasen is available for interviews and will welcome all your mortgage related questions.

Call (760) 559-2423, email andrewloans@msn.com or visit http://andrewloans.net to see if you qualify for this new program even if you have been turned down by others.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Victorville, California based Mortgage Broker Andrew Andreasen explains how FHA wants more homeowner’s to be able to refinance to a lower FHA Mortgage Payment, why FHA has lowered the Mortgage Insurance for refinancing your FHA loan, and how that could save you hundreds even thousands!

Victorville, CA -- (SBWIRE) -- 06/12/2012 -- FHA wants more homeowner's to be able to refinance to a lower FHA Mortgage Payment. FHA has lowered the Mortgage Insurance for refinancing your FHA loan and that could save you hundreds even thousands!

June 11, 2012 is the date FHA Up Front Mortgage Insurance Premiums (UFMIP) will be lowered for some borrowers applying for FHA Streamline Refinance Loans. FHA Mortgagee Letter 12-4 explains the changes. For some, FHA will lower its Upfront Mortgage Insurance Premium for certain current FHA loan clients to just .01 percent.

IF YOU CURRENTLY HAVE AN FHA LOAN – THIS IS HUGE!

Many current FHA loan clients have not been able to take advantage of record low rates because of the because of the previous high cost of FHA Mortgage Insurance. The higher MIP offset the benefit of the lower rate. The slash to only 0.1% – combined with historically low rates means many more people will save THOUSANDS of dollars using the 2012 FHA Streamline Refinance Program!

When the new fees take effect, a borrower refinancing $200,000 will about pay $20 -- instead of $3,500 -- in upfront mortgage insurance. The borrower also will pay about $92 -- instead of $208. Many times the borrower can work with the lender to avoid any upfront costs as well.

This means that a borrower brings no money out of pocket and lowers their payments significantly. No wonder the industry is buzzing about this change

If you want to know if you might qualify for this new program remember these few rules:

- Existing FHA Loan must be current and not been late in last 12 months
- Your current FHA mortgage must have been endorsed prior to May 31, 2009.
- Employment verification is not required with an FHA Streamline Refinance
- Income verification is not required with an FHA Streamline Refinance
- Lower Credit score may not disqualify you for an FHA Streamline Refinance
- A new appraisal is not required with an FHA Streamline Refinance

Andrew Andreasen offers this tip when considering refinancing:

- You should get a significantly lower rate for refinancing to make sense. Don't rush to refinance unless it's truly worth your while.
- Don't be afraid to ask questions about the terms.
- Be prepared when you call by having a copy of your mortgage coupon with you.
- Before you call ask yourself "How long do I plan to keep this home?".

Victorville, California - based mortgage expert Andrew Andreasen specializes in providing mortgage information to California residents that allows them to make informed decisions about their mortgage financing options and learn the insider secrets that can save them thousands of dollars over the life of their loan.

Andrew Andreasen is available for interviews and will welcome all your mortgage related questions.

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Call (760) 559-2423 for a Free No-Obligation Consultation or visit http://www.andrewloans.net NMLS 237132

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm