http://www.weeklyfinancialsolutions...Stack_Shocking_MobileTop&utm_medium=bloomberg Little-Known Government Lending Program Offers Ridiculously Low Mortgage Rates fr When homeowners visit The Easy Loan Site[emoji769] official website, they may be surprised at the shockingly low interest rates still available today and to learn of the home refinance plan banks don't want you to know. Despite being available since 2009, one of the least well known and simplest strategies behind reducing your mortgage payment is this government program called the Home Affordable Refinance Plan (HARP). Millions of homeowners today could qualify and stand to benefit tremendously before interests rise and before this once in a lifetime program expires. Savvy homeowners who have already taken advantage of this program could have easily reduced their payments by as much as $4,264 each year. 1 With close to a year only remaining, there isn't much time left for homeowners to benefit from the program while it's available. The good news though is that once you’re in, you’re in. If lowering your payments, paying off your mortgage faster, and even taking some cash out would help you, it's vital that you act now. Tip: Mortgage rates are closely tied to the Fed's action and the economy. Act now while rates are still near historic lows and avoid a potential rate hike. Check for Rates A true stimulus package for the middle-class Did you know that the Home Affordable Refinance Program is designed to help middle-class Americans? If your mortgage is less than $625,000, your chances of qualifying could be high. 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: You have the option to shop lenders other than your current mortgage holder 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, so they are putting pressure on the Government to reverse this program. "People can really take advantage of this," Obama recently said in Washington, DC, urging homeowners to refinance sooner rather than later.1 How much could you be saving? Here's an example of how much you could be saving by reducing your rate to 3.25% from 6.25% (based on the rate that many homeowners received from lenders years ago) What a 3% difference really means. 200k loan @ 6.25%200k loan @ 3.25%Savings $1231 per month$870 per month$361 per month $443,316 total cost$313,348 total cost$129,967 total cost How do I get these low rates? With hundreds of mortgage lenders and brokers available, it can take consumers hours to simply 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 The Easy Loan Site has one of the biggest lender network in the nation and what’s better is that they work with HARP lenders to provide consumers with a comprehensive set of mortgage options. The Easy Loan Site's 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!
I refinanced a couple years ago to 4.125, but I actually had them add interest points to the refinance, and basically refinanced for free.
Interest rate are nearly unbelievable. The cheapest I ever had was a 4% state GI loan. That was suppose to be the cat's meow. Now you get a better deal for doing nothing.
To be fair, college loan interest rates are way way higher than 4%. Younger folks would have killed for 4%...
Yeah, you get crap for your money in LA and I'm not moving to butt fuck egypt. I have rent control, so its pretty fucking sweet, paying about 30-40% under market value.
Does it bother you seeing real estate prices in the area skyrocketing while you're renting? Or do you not plan to stay there for the long run?
Not really, I pay about the same in rent that my friends pay in property taxes. It feels good to be paying way under market rates for my area. I live near the beach, the properties do not fluctuate that much since its a limited area and demand is usually pretty high and inventory is low. Even in down markets, the prices are pretty high still. If I were to buy, I'd have to move more inland and that's something I'm not willing to do. If I were to buy, it should have been 3 years ago. And it would have been a condo or a fixer upper in a shitty, gang infested area and then I'd have to gamble on gentrification. But buying on the westside, you're not going to realize much gains as the prices hold pretty steady through good and bad markets.
I know someone who bought a condo dirt-cheap in Long Beach in a rad area, a few blocks from the ocean. Not gang-infested or anything (though it does get a little rougher maybe a mile or two down the road, but I feel like it's sporadic like that all over SoCal). He put $15K into it and sold it about 18 months ago for like $125K more than he bought it for. That ain't shabby.
