After you have owned your house for a number of years, you may think that you are stuck paying the same mortgage payment each month through the life of your loan. However, there are many refinance plans that banks try to keep hidden that can help you save thousands of dollars on your mortgage each month.
One of the most common refinancing programs that can help you save money is the Home Affordable Refinance Plan, or HARP. The HARP program was meant to benefit middle-class Americans by cutting their mortgage payments by more than $4,000 a year for those who qualify. It was started to help boost the economy by allowing more people to pay off their mortgage and own their homes outright. Many banks are not very forthcoming with the program since it means less money for them. The longer homeowners pay on their mortgages, the more money the bank brings in.
For all of your real estate needs throughout Northern San Diego and to ensure that you are paying the right amount for your home each month,contact The Alan Shafran Group.