Michigan is Ranked 5th in the U.S. in HARP Refinances
HARP 2.0 is Allowing Michigan Residents to Better Manage Their Mortgage and Lower Their Monthly Payments
There were over one million U.S. homeowners who took advance of the Home Affordable Refinance Program in 2012. In January of this year, close to 100,000 homeowners refinanced their mortgage using HARP to improve their financial situation.
In January 2013, 40.72% of all refinances in Michigan were from a HARP transaction. This number has the opportunity to grow with the expansion of the HARP 2.0 cutoff date and a potential HARP 3.0 program. Guidelines continue to ease, making banks eager to provide as many HARP loans as reasonable.