Reasons to Refi

Reasons to Refi

The experts at Harper Financial give you five reasons to refinance your mortgage now. Lock in that rate! If your adjustable rate mortgage payment is increasing (insert cries of horror here), refinancing is a must. Adjustable rate mortgages (ARMs) are often a good and cost-effective short-term solution but never one you want to be subjected to for the long haul. Rising rates and their corresponding rising payments can atrophy your financial status and, in turn, greatly destabilize your financial solvency. Refinance now into a fixed-rate loan so you can get on a fixed budget and actually plan for your future. Mortgage rates are still at a record low. If your current interest rate is higher than today’s rate, what are you waiting for? As long as your current loan does not have a pre-payment penalty and you qualify for a good loan without excessive closing costs, there is no time like the present to get settled in a new loan. Whether it’s a 30- or even a 15-year, a lower rate will ultimately save you tens of thousands of dollars — if not more. Pay off debt faster. Tired of all those bills – and all those APRs piling up month after month? Consider refinancing your current home loan to free up some money you can use to consolidate your monthly debt like credit cars and car loans. One payment a great rate and no more bills? Yes, please! Cash out. If you’ve got equity in your home, you can refinance your loan and use that equity for anything from college tuition to home improvements to that long-awaited vacation....

Our Wish for You

Here’s to the happiest of holidays and a healthy, happy and successful 2016! All our best, Winnie Uniacke, Norman Novinksy and the Harper Financial...
The Harper Financial Edu-Series on:  Reaffirmed and Non-Reaffirmed Mortgages

The Harper Financial Edu-Series on: Reaffirmed and Non-Reaffirmed Mortgages

Reaffirmed Mortgages: In a bankruptcy case, a reaffirmation agreement is a legal contract stating that you promise to repay all or part of a debt that would have otherwise been released once the bankruptcy was discharged. Reaffirming your mortgage means that you are recommitting to the loan and all of its terms. Both the lender and the borrower must sign off on the agreement. Should you not be able to keep up with your payments and default on the loan, your home will be subject to foreclosure. Translation: You become permanently liable for the loan, regardless of what happens. Non-Reaffirmed Mortgages: Unlike some personal property, you do not need to reaffirm a mortgage to keep your house. As long as you keep your payments current, you keep the house, regardless of whether you reaffirm the mortgage or not. For the aforementioned reason, as well as others, a homeowner may choose not to reaffirm his/her mortgage. The caveat: Most banks will not work with you on a refinance if you have not reaffirmed your mortgage. Moreover, they’ll often cease reporting your current payments to the credit bureaus in an attempt to pressure you into reaffirming. Why? Well, as long as you have the mortgage scheduled in your bankruptcy, the lender cannot go after you personally for any shortfall or deficiency. The good news? Harper Financial will work with you on a refinance of a non-reaffirmed loan! According to Winnie Uniacke, Harper Financial’s senior loan expert, “We understand the full implication of and ramifications for borrowers with non-reaffirmed mortgages and are ready, willing and able to assist them. We have an...
Welcome to Harper Financial

Welcome to Harper Financial

Welcome to Harper Financial: The premier go-to for alternative real estate financing in Massachusetts. We’re happy you found us – and even happier about helping you find the very best loan for your very unique situation. What’s even better? We work with you for the duration of your loan, step by step, hand in hand, to ensure you achieve an optimal exit strategy. At Harper Financial, you are more than a name and loan number; you’re the builder of your very own American dream. We understand our clients and we know what they need to succeed. Want to learn more? See what loan solutions we can custom-tailor to suit your needs. Got questions? Ready to get started? We’re here for...