Why Did No One Tell Homeowners About This "Golden Ticket?"

Two shocking studies prove that homeowners significantly overpayed on their mortgages. And it has banks on edge.

3.4 million refinanced with the free program, HARP®. For those owing about $200,000 on their home, they saved $291 a month on average.¹ Differing mortgage amounts save homeowners more or less, but the catch is that this program by the Federal Housing Finance Agency is set to expire September 2017.

That's why homeowners comparing June's rates are excited to try to qualify for this government plan (this service has A+ from the BBB²). Because many middle class homes are saving $2,500 a year, Home Credit Relief calls this "The Forgotten Stimulus Plan."

Eased credit standards,³ a housing boom, but expected rate hikes show that now is the perfect time to lock in lower payments. If lower payments or a shorter mortgage term appeals to you, now is the time to act.

"The Forgotten Stimulus Plan"

This is a plan that banks aren't too happy about. It is recommended that you shop multiple lenders, and you're not limited to your current lender's rate. This means many homeowners are quiting their current mortgage.

It's not a great deal for banks, but homeowners couldn't be more thrilled with many easy qualifications:⁶

• No new or additional mortgage insurance required
• Loan-to-value ratio at least 80%
• Limited or no delinquencies over the last 12 months

Those that qualified, on average saved $291 a month, but even those that didn't qualify... shaved $208 off their monthly payments.¹