Adjam5 Posted April 15, 2009 Report Share Posted April 15, 2009 HASP Home ownership Affordability and Stability Plan If the bank that holds your mortgage took Fed bailout money, they have to participate in this HASP program. Call your lender, ask if they are part of HASP and if they are, you have a great chance of lowering your monthly mortgage payment by getting a better rate. Rates are at a all time low and most likely will never be this low again. So find out if you can get a better deal from your lender. This program by the way is fee free. No charge if your lender participates. It is basically banks giving better rates to folks who have paid their mortgage on time and made their payments. They do not want any more foreclosures, so they are offering a better rate to all who ask and qualify. Look into it, I just got off the phone with my bank and the ball is rolling. Thought I'd pass this on. Quote Link to comment Share on other sites More sharing options...
wtnhunt Posted April 15, 2009 Report Share Posted April 15, 2009 Wonder if those banks also give better deals for new construction loans? We are hoping to build probably early next year. Definitely something to check on. Thanks Anthony. Quote Link to comment Share on other sites More sharing options...
Tominator Posted April 15, 2009 Report Share Posted April 15, 2009 Link? Quote Link to comment Share on other sites More sharing options...
Adjam5 Posted April 15, 2009 Author Report Share Posted April 15, 2009 Link? Chris, it is a program set up by the feds for all of the banks that took bailout money. They will reward good payers and most likely drop the mortgage rate. You have to call your bank and see if they participate in HASP. If they do, tell them you would like to renegotiate your mortgage. There is no fee for this service. http://en.wikipedia.org/wiki/Homeowners_Affordability_and_Stability_Plan Quote Link to comment Share on other sites More sharing options...
Flintlock1776 Posted April 15, 2009 Report Share Posted April 15, 2009 http://www.whitehouse.gov/blog/09/02/18/help-for-homeowners/ Of course any reasonable person that bought within their means and paid their mortgages won't qualify Quote Link to comment Share on other sites More sharing options...
jbeck Posted April 16, 2009 Report Share Posted April 16, 2009 Had an old man tell me once, and I quote "DON'T TAKE MONEY YOU DON'T HAVE TO BUY STUFF YOU DON'T NEED TO IMPRESS PEOPLE YOU DON'T LIKE." I've done my best to live that way. Quote Link to comment Share on other sites More sharing options...
Adjam5 Posted April 20, 2009 Author Report Share Posted April 20, 2009 Weather or not I qualify for this program, I do not know. I do KNOW that just asking for a rate reduction my bank offered to take a half point off of my mortgage. I have never been late and I am down to the last 12 of a 20 year note. So if because of this program if anyone could get a rate reduction...go for it. I will shop my re fi a little bit better. I think I could get a rate in the 4's. I'm at 6.125% currently. I don't think the rates will be going any lower any time soon. It is a good time to re fi. Quote Link to comment Share on other sites More sharing options...
MCH Posted April 20, 2009 Report Share Posted April 20, 2009 Can't shed any light on this, sorry. Quote Link to comment Share on other sites More sharing options...
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