Florida Experiences High Home Mortgage Refinance Requests

Article Posted by Expert Author: Tony Caro  on 04/08/2013

Those living in the Sunshine State are apparently very interested in refinancing their home mortgages. Based on available data, it has been reported by the Sun Sentinel that Florida is among the top states where home refinance applications are being submitted.  In fact, the number of individuals applying for a new mortgage increased by roughly 152%. That is a staggering increase over the prior year and it has led to Florida being ranked third in the nation behind only Nevada and Michigan. Those two states, however, are dealing with far greater unemployment numbers than Florida. Yet, under the HARP program, many homeowners are looking to acquire a much lower rate of interest. The HARP program is intended to help people who find themselves "upsidedown" on their mortgage to refinance at a lower interest rate. Surprisingly, there are still quite a number of approvals of refinance applications submitted by people with underwater homes that do not qualify for HARP.

 

If you believe you may qualify for a refinance (meaning you are current on your mortgage payments, have maintained good credit, and want to take advantage of the historically low interest rates available) then visit http://www.refinancehomemortgageguide.com/ for more information.  Education is key in this difficult economy to make financially savvy choices.

 


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