This post brought to you by Quicken Loans. All opinions are 100% mine.
by Clayton Closson.
You read that title correctly.
An estimated 2.7 million American households could refinance to today’s mortgage rates (which are near historic lows, in case you haven’t been paying attention) through the gov’s HARP program. And they can do it even if they owe more money than their home is worth. Up to 200%. But they aren’t. And we don’t know why.
Why don’t they want to lower their mortgage payment?
Why don’t they want to shorten the term of their loan?