Do you still have an interest rate on a mortgage that is too high and not enough equity to refinance?   There’s a little-known government program called the Home Affordable Refinance Plan (HARP). This allows Americans to refinance their homes at low rates, and reduce their payments by an average of $4,100 a year.

But here's the catch -- like most government programs, this is likely temporary. Currently the program is set to expire on December 31, 2015. But the good news is, once you're in, you're in. If the thought of a lower payment or fewer years on your mortgage sounds appealing, the time to act is right now.

It's like a true middle-class stimulus package

This is unknown to many, but the Home Affordable Program is for the middle class. If your mortgage is $625,500 or less (unless you live in a high-cost area then the loan limits may be higher), you most likely qualify. Basically, the Government wants banks to cut your rates, which puts more money in your pocket (which is good for the economy). However, the banks aren't too happy about this - here's why:

 You can shop several lenders, not just your current mortgage holder.  Your home's Loan-to-value (LTV) can be 80% to 125%

You think banks like the above? Rest assured, they do not. They'd rather keep you at the higher rate you financed at years ago. That's why the pressure is on time-wise. The Middle Class seems to miss out on everything (did you ride the last stock bubble? Probably not). Thus, it's almost a no-brainer to jump on this now. You need to act fast in order to refinance your house at these current low refinance rates. You can greatly benefit:  The average monthly savings for most eligible Americans is $345. Can you use an extra $345 a month?

Many homeowners not only save every month, but depending on their current rates, they can also shorten their term.  Deferred payments - typically, one or two payments are skipped / deferred as well.  This is why it's a no-brainer - you will likely lower your payment, possibly shorten your term, AND can also get cash. This is how powerful that little word called "interest" is.

Please call me at 314-378-2387 for further information or for the name of a reputable, experienced loan officer.