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Real Estate >>
How to tower Your
Mortgage Payments
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Important
financially
re you a homeowner who is cur-
rent on your mortgage and look-
ing to lower your interest rate?
Alternatively, would you like to shorten
your mortgage term and build equity
faster?
You may be able to take advantage of
a long-standing federal program to save
hundreds of dollars on your mortgage pay-
ment every month or shorten your mort-
gage term and save money in the long run.
The Home Affordable Refinance
Program (HARP) is a unique program that
helps certain homeowners refinance their
mortgage to a more affordable monthly
payment and at better terms. With HARP
now extended through December 2016,
homeowners across the country have more
time to take advantage of this program to
save money every month.
If you purchased a home before June
2009, have little or no equity in your home
but are current on your mortgage payment
(meaning no 30-day-plus late payments
in the last six months and no more than
one in the past 12 months), and the loan is
CRANBROOK
REALTORS®
owned by Freddie Mac or Fannie Mae, you
may be eligible to refinance your mortgage
through HARP.
More than 3.3 million Americans have
taken advantage of HARP since 2009,
saving them $200 on average per month.
Here's how you can take advantage of this
program:
• Gather your basic financial informa-
tion before you contact your mortgage
company. You'll need: your latest mortgage
statements, including information on a
second mortgage (if applicable); and your
current income details (paystub or income
tax return).
• Find out if Fannie Mae or Freddie
Mac owns your loan. In order to qualify
for HARP, your loan must be owned by
Fannie Mae or Freddie Mac. Contact your
mortgage company or visit www
knowyouroptions.com/loanlookup or
https://ww3.freddiemac.com/loanlookup.
If your loan is owned by Fannie Mae
or Freddie Mac, ask your lender if it is an
approved HARP lender. Be prepared to
provide the information necessary to ver-
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ify your current source of income. If your
lender is not an approved HARP lender,
find out who is near you on the Fannie
Mae and Freddie Mac websites.
• Go through the application, approval
and closing process. If your lender deter-
mines you qualify for HARP, they will
guide you through the process.
HARP has no appraisal requirements
or loan-to-value limits, so you can apply
regardless of how far your home may have
fallen in value. Without this program,
qualifying for refinancing can be virtu-
Birmingham Office
Franklin Office
555 S. Old Woodward, Suite 22-U
Birmingham, MI 48009
248-283-8700
32440 Franklin Road
Franklin, MI 48025
248-626-8700
ally impossible for homeowners who are
underwater.
Remember, the opportunity to get a
HARP refinance expires Dec. 31, 2016,
and there is still time to take advantage of
low mortgage rates.
Make 2015 the year you take the step
to save money on your home loan. Call
your lender to apply now and begin to
save. For more information, visit www.
HARP.gov. *
Courtesy of State Point.
Mitch Wolf
Owner/Broker
C: 248-229-0036
mwolfeicranrealtors.corn
www.cranrealtors.com
WEST BLOOMFIELD
$284,900
BLOOMFIELD TWP.
$349,900
Located in a quiet setting of a highly desired gated community. This
detached condo has updated kitchen w/granite counters & new ap-
pliances. New updated baths. First floor and 2nd bedroom on entry
level. Lofted 3rd bedroom with full bath. A great option for office.
PooVclubhouse only a few steps away.
• 2,224 SF
• 3 Bed / 3 Bath
• Totaly Updated
• Walled Lake Schools
• First Floor Master
• Free Standing Detached Condo
• Gated Community
This is notyour ordinary Tri-Level! This beautiful home is located
in a great neighborhood close to shopping and boasts Bloomfield
Hills Schools. Gorgeous white kitchen with granite counter tops and
breakfast area. Loads of glass windows which overlook the private
rearyard and deck area. Theyard offers Invisible Fencing. A fireplace
in Living Room and Family Room enhance the entertainment
capabilities for Holidays, Family Functions and Dinners. Enjoy the
Sauna off from the Family room on those stressful days.
• Sauna on Lower Level
• 2,529 SF
• Private Wooded Backyard
• 3 Bed / 2.1 Bath
• Inground Pool with Hot Tub • Bloomfield Hills Schools
For more info/photos, call 248-626-8700.
For more info/photos, call 248-626-8700.
FRANKLIN VILLAGE
$495,000
• 2,655 SF
• 3 Bed / 2.1 Bath
• Completely Modernized
• In-ground Pool
• Birmingham Schools
• Three Fireplace
Home includes fenced backyard with large in-ground pool - perfect for
entertaining small or large groups! Exterior was newly painted in 2014.
Driveway was resurfaced in 2014. Garage updated in 2015 with insula-
tion and convenient storage area. Upstairs bathroom updated recently
with marble and imported Carrera tile. 3 quaint fireplaces throughout
home makes every room a relaxing retreat in the Fall and Winter time!
New water softener installed in 2013. Gorgeous views from every
room in the house. Home is situated on nearly an acre of lush wooded
surroundings. Easy 5 minute walk to all major attractions in downtown
Franklin - including Franklin Cider Mill, Franklin Community Park, and
more! Home offers the best of both worlds of desirable seclusion with
access to quaint, luxurious Franklin village amenities.
For more info/photos, call 248-626-8700
COMMERCE TWP.
$689,500
• 6,343 SF
• 4 Bed / 3.1 Bath
• 1st Floor Master
• Lakefront Property
• Custom Built Home with Lower
Level Walkout
Move right in to this custom built dream lake home! Beautiful views
from every window, this lavishly built home offers amenities galore.
Enjoy a gourmet kitchen, exquisite tile work in all of the bathrooms,
beautiful pillars in the formal dining room and a grand foyer. The
first floor master overlooks the lake, as does the great room with two
story architectural windows to savor every view. Enjoy time spent in
the three season room which opens to a side patio and meandering
walkway down to the lake. The lower walk out is a dream entertaining
home, featuring a full bar, two game rooms, a large living room, a
full bedroom with large walk in closet, a full bath, a fitness center
and storage galore. Also offering an oversized three car garage and
full house generator.
For more info/photo, call 248-283-8700.
If you're interested in joining our Cranbrook family, contact one of our offices today!
38 October 15 2015