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How to Refinance a Home Equity Loan

Many homeowners have called us in a panic because their lenders were less than helpful when it came to refinancing their home equity loan. What most applicants don't realize is that very few mortgage lenders offer home equity loan solutions in today's marketplace. We are one of the last few home equity lenders so naturally you should let the equity loan experts help you assess your second mortgage eligibility.

Of course on paper, people can see that refinancing will save them money because home loan rates have fallen below 4% on fixed 30-year programs for the first time ever. However the guidelines for home equity refinancing have become more difficult as the criteria to qualify has changed dramatically.

Are you looking to refinance your home equity loan with a lower cost 2nd mortgage? Well that may not be possible if you don't have enough equity. Many consumers are excited about the Home Affordable Refinance Program but few people realize that this program is only for 1st mortgage liens.

The HARP mortgage program was established in 2009 to offer a refinancing solution to homeowners that were unable to qualify for a conventional refinance loan because their first mortgage was underwater. The HARP program only addresses 1st lien obstacles in which the homeowner's house value has fallen below the mortgage balance.

Yes there have been major provisions of the HARP program including the elimination of the 125% Loan-To-Value restrictions, but that does nothing to help borrowers that have a 1st and 2nd mortgage underwater. Yes Obama was successful in getting the insurance companies to ease the representation and warranty stipulations but again this is only a 1st lien refinancing opportunity.

You will enjoy S.H.E.'s efficient home equity refinancing quotes. We will help you get matched with several refinance lenders in minutes!

 

Home Refinance Articles

> Getting Money from a Home Equity Loan
> How to Refinance a Home Equity Loan?
> Equity Loan Rates
> Home Repair Loan
> Fixed Home Equity Loan
> Home Equity Interest Rates
> No Income Home Loan


Underwater Refinance Options
Underwater Refinance In most cases, negative equity excludes a homeowner from qualifying for a refinance program, but the HARP loan creates another last ditch chance for homeowners to get help from the government.

Home equity loans are subject to lender and underwriter approval. This is not an advertisement for credit as defined by paragraph 226.24 of regulation Z. Disclaimers
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