Those whose current (conventional) loan was bought by Fannie or Freddie prior to May 31, 2009 may benefit tremendously by HARP. A new appraisal is required, however, the current max. LTV of 125% is being lifted with the upcoming HARP 2.0.
If you have a FHA loan, and have had it for at least 6 months, may benefit by a FHA Streamline refinance too. While FHA Streamlines do not require a new appraisal, the big downside is that HUD raised the MI premium last year and the older FHA loans with lower MI premiums would be subject to the new premium, reducing the savings; but every case is different and definitely worth investigating; especially if you have a high rate.
Whether refinancing or considering a purchase, rates are indeed low and worth investifgating the potential savings,
i have heard horror stories on Amerisave myself, they have many people complaining on ripoffreports.com
i had been looking to re-fi through them, but after reading the complaints i am not so sure. Are there any more people on here who re-fi'ed with Amerisave with no problems?
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