Orlando Real Estate

HARP Success Story

March 5th, 2012 11:20 AM by David W. Welch

HARP Success Story - you may choose to forward this to someone you care about that is upside down on their home.  Imagine how grateful they will be.

Orlando, Florida HARP 2 success stories continue. HARP refinances are finding their way into the savings accounts of many Florida homeowners day after day. This is the story of Nate and Alona.

Nate and Alona just closed on their Florida HARP refinance Loan and we wanted to share how HARP and Certified Mortgage Planners kept them from spending more than necessary on their Orlando Home Loan.

Loan Before HARP:

Balance: $240,281

Interest Rate: 5.50%

P+I Payment: $1447.86

New HARP Loan:

Balance: $243,300

Interest Rate: 4.25%

P+I Payment: $1196.89

HARP refinance monthly savings: $250.97

See my monthly savings

We advised Nate and Alona to structure their loan to have $0 closing costs. In fact,we paid their closing costs and credited an additional $1,343.78 towards creating their new escrow account for taxes and insurance.

We also structured the loan to allow Nate and Alona to:

  • keep their February 1st payment ? keeping $1,916,
  • no payment due March 1st ? keeping another $1,916,
  • they received back $490 back at closing,
  • PLUS they will receive their escrow refund $1,702 after closing.

All of this was strategic designed to get some monies back through the exercise.

More good news - we identified their property was significantly over-insured and advised Nate to have the dwelling coverage reduced, which saved over $1,000 per year.

These added strategies through consultative advice created:

HARP immediate ?in-my-pocket? savings of $8,367

See my monthly savings

Do you think their current loan servicer would have taken the time to evaluate and create such a comprehensive plan to help Nate and Alona improve their cash flow and put some significant monies to their emergency cushion fund?

Experience is showing more people can take advantage of this type of relief. Who do you know that would benefit from you forwarding this to because you care about them?

Join our CLOSED Facebook Group | Apply for HARP now.

Certified Mortgage Planners and Chris Brown are nationally recognized HARP Experts for the Florida HARP Loan Refinance Program.

Florida HARP Refinance
Posted in:General
Posted by David W. Welch on March 5th, 2012 11:20 AM

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