Copyright: Alexander Raths / ShutterstockBarbara Corcoran, a renowned New York real estate expert and the star of “Shark Tank” show, has this single advice to people looking to take out a mortgage – “Stop giving away your hard-earned money”. True enough, she knew what she was saying when she gave out that piece of advice to people. After all, taking out loans requires careful research. The last thing you want to happen is to end up losing everything you have managed to save in the bank just because of a serious and irreversible mistake. So, before you start signing loan contracts, be sure to shop around and compare rates until you find the right option that suits your situation.
When it comes to getting a mortgage, there is more to it than just doing a simple online search, choosing the first company that appears on the page, and signing the agreement to finalize the deal. If this is your course of action when taking out a mortgage, then you are headed in the wrong direction. A single mistake can put you in misery for the rest of your life as you try to pay off your loan. The worst part is, it’s just like what Barbara Corcoran said, that you’re just giving away your money by not being thorough enough in getting your mortgage.
For instance, there is such a thing as the “Home Affordable Refinance Plan or HARP, which is a reasonable way to settle your mortgage payments. This is a program by the government that helps reduce payments to help you in your financial situation. Several homeowners who have applied for this program were amazed to find out that their mortgage payments only cost them at least $4,264 per year.
TIP: Almost a million homeowners in the country can take advantage of this program today. Unfortunately, not everyone has taken the chance to check into this option. Keep in mind that you can check your qualifications for this brilliant government program – at absolutely NO cost. Find out if you qualify for it ****here*****
The HARP allows borrowers to pay a lower mortgage fee, which fits perfectly with their current financial condition. Most importantly, there are simpler and more relaxed guidelines involved with refinancing, along with qualification policies. There are also cases where there is no need for appraising your home before you can qualify. If your existing mortgage is lower than $625,000, you have a chance of qualifying for this program.
Just remember – there is no time to waste to check if you can qualify for this program. It is bound to expire the following year, and the rates are slowly increasing already. So, the time is now to get moving and determine your qualifications. The moment your application is approved; you can enjoy a lower rate for your payments until the end of your loan term.
Do You Qualify? How You Can Find Out
Barbara Corcoran recommends that you begin your research online to determine if you qualify. With several services available online, you can compare multiple lenders to save your time and money. The Easy Loan Site, for instance, has one of the nation’s biggest lender networks, which also includes numerous HARP lenders. Comparison is fast and simple at The Easy Loan Site, and the best part of it is there are no fees to pay!
