Revised Mortgage Plan Designed to Help Struggling Borrowers
October 29, 2011 by Mark Roknich
By email this week, I received an overview of the recent changes to the Home Affordable Refinance Program (HARP). I have blended in with it some bullet points of my own:
- The changes are effective December 1, 2011
- The new rules targets homeowners who owe more than their homes are currently worth
- Mortgage must be guaranteed by Government lenders, Fannie Mae or Freddie Mac
- Mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009
- Payments must be current during the prior six months; no more than one late payment in the prior year
- Homeowners can now refinance no matter how much they owe (eliminates the 125% rule that existed)
- The changes eliminate appraisals and many underwriting requirements (in many cases)
- The new rules include/mandate waivers of many expensive upfront fees
As you can tell, there is some fine print in this program. As a great starting point, call us at (949) 240-5892 to help you determine the market value of your Dana Point home.
Then call our friend, Mike Harper, at Alpine Mortgage, 949-769-7588, who has generously offered to help, to find out how these changes to the HARP program may help your ability to refinance your particular home and take full advantage of lower interest rates.
This is a PDF document on the Federal website that outlines the new rules in greater detail.
33681 Granada Drive, Dana Point – For Lease
October 28, 2011 by Mark Roknich
Official Website for this Listing in Dana Point!
Hard to beat this view! Coastline, whitewater, and sunsets…live the life! Short distance to the beach…walk to dining and shopping! Quaint street with lovely neighbors! HOA pool and jacuzzi! Possible to lease as furnished. Giant master with fireplace and retreat and view deck, enormous master closet, lovely bath with his/hers sinks, tub and shower! New stone flooring throughout and carpeting. Gourmet kitchen, dining area and great room with fplce and large entertainers deck! Inside laundry…oversized two car garage! Ready now! Located in between Laguna Beach and San Clemente! Easy access to the 5 freeway. Walk to dining and shopping!
More info here this weekend! Only $2795 per month, available now!
September Community Update
September 16, 2011 by Mark Roknich
Recognizing Our Dana Point Teens
Congratulations to the new members of the Dana Point Youth Board. After personal interviews by the City Council, the following new members were appointed: Amanda Anderson, Calin Clifford, Hugh Fitzmaurice, Jordan Hall, Chris Kwok, Matthew Lim, Nate Magee, Sarah Martino, Fabiana Munoz, Lauren O’Connor and Morgan Tolles. Appointed “at-large” members are Luke Alcantara, Alena Powers Davis, Audrey Derbonne, Megan Geyer, Ellie Gogichaeva, Kelly Krieger, Katie McAndrews, Sam O’Melveny and Jessica Pop.
Coastal Clean-Up Day!
Today, September 17th is the 27th Annual California Coastal Cleanup day, from 9am to noon. Dana Point will host four cleanup efforts. Details will be posted on our roknich.com website Friday afternoon (or can be found at ocregister.com).
Constitution Day!
Saturday, Sept. 17th is also Constitution Day in the U.S. We will be flying our flag proudly! http://www.constitutionday.com/