Miami Condo Market and Lifestyle Updates
Homeowner : How to save hundreds of dollars each month ?

Homeowner : How to save hundreds of dollars each month ?

by Sep Niakan | November 25, 2014

Almost 100,000 homeowners in Florida are eligible for a program that could save them hundreds of dollars per month, but many are not using it.

A report from the Federal Housing Finance Agency says that Florida has the greatest number of eligible borrowers for the Home Affordable Refinance Program (HARP) that are not using their low interest rates.

HARP allows borrowers to save up to $3,000 per year by taking advantage of their program. It is not going to last forever either; December 31, 2015 is the last day of registration.

On the other hand, some banks listed with the Federal Housing Finance Agency do not want to refinance certain owners. Owners who owe over 25%, whose home is worth less than the loan, or who are not already customers, may not be able to get help. On top of all of that, some borrowers themselves might not want to pay fees to close and refinance.

This is a troubling time, so it is important to know that loans themselves are sometimes confusing. It is great to get a professional who knows what they are doing to help you through it.

 

Source: therealdeal.com

Photo credit: House christiesrealestate.com

Recent posts

Lifestyle

Car-free in Miami: How to Give Up Your Car for Lyft and Uber . . . and Love it.

by Sep Niakan | November 29, 2016

This is a story of how one Miami condo dweller (that's me, Sep Niakan) gave up his car at the end of his lease and gained freedom (and $$) in its place. If you have been thinking of getting rid of your car or know someone who is, read...

Real Estate News

How Miami Condo Sales Will Benefit from New FHA Lending Rules

by Sep Niakan | November 24, 2016

Lending, specifically FHA lending, is inching forward in favor of Miami Condos. Before President Trump pulls out any game-changers, I thought it would be the right time to reflect on a Bill passed into law by President Obama this August. The...

Real Estate News

Reflecting on BrickellHouse Robotic Parking Garage Failure

by Sep Niakan | November 22, 2016

It’s been almost a year since BrickellHouse’s robotic parking garage blunder, and I’ve been thinking about what this means for the automated parking business in Miami condos. In brief, Boomerang Systems (the robotic garage...

Real Estate News

What’s behind Downtown’s Latest Population Explosion?

by Sep Niakan | October 31, 2016

From a humble 9-to-5 district to after-dark playground for the it-crowd, Downtown Miami has had quite a turnaround in the past decade or so. According to the latest Miami Downtown Development Authority report, there are now 88,540 residents in...