nV A‘ Real Estate >> How to tower Your Mortgage Payments A Ci) 4-• CD 1- , Cb yeti. 1. , = ,t,bit gti 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- Li" i:. c3 potentially (1)house commonly C — a) > 173. 0, - r=oki=g . : .0 .> ... 12fi c S E I;(13 o btain ing 2 C(7) 1 12 - -comfortable • -Tate 4-6 " ° ' 5L = reflect lot 4 . 0 = 2 ° final. 2,53 3 . fl d i o thorough al ;deal' o■ 8 am' .itiste referred co exciting de cisk. W .).),....). money dod shows ho ot ime me 'E =t' C5 alielennd US a l I/1 cu E neceriiy afforcl Pe E many -> ° cLigr"t cover >t long co cg•z ■ 0-0 w oarefulschedule size underlying In ere including Parr rico 4' t. ter dreams ■ ixe ,A 3 new experience s predictable complicated ow 0 typic ally purchasing smaller -gET' solid tazea „ rewarding Ta c I in:::111 12 0 enable /A E ia ..?.. 2 counterparts 7 floating-rate d search homes take r paid Regardless e t . 11 f.tenti.1 increas e cause • purchased) w W l (ni. A % ti D 1,' eE co w. ttog ...d on : . f. 'I gi ratesElI ME,E ` often 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