Trump’s Brilliant Advice for American Homeowners
(San Francisco, CA) — Donald Trump is at it again. This time, the distinguished billionaire is taking on the Federal Reserve, specifically calling out Fed Chair Janet Yellen for keeping interest rates artificially low. But, behind President Trump’s rant is a tip for homeowners who are looking to save on their loans.
In an interview aired on Bloomberg TV, Trump said that as a property developer he has “always loved” low interest rates because they allow his businesses to borrow money cheaply and bring down the interest payments on mortgages on his properties.
But Trump knows that these low rates cannot last forever. “I’m just saying, at some point, you have to raise interest rates,” says Trump, and he predicts it will occur after the next election cycle. The secret is to lock in your low rate now, before rates go up.
Think like Trump
So how can you “Think like Trump” and take advantage of these low rates? One of the best ways is to check if you can refinance your loan with the HARP refinance program. Visitors that check MortgagExaminer.com are often shocked at how much they can save on their mortgages.
What is HARP?
HARP is a special government program designed to help middle class homeowners take advantage of today’s rock-bottom rates, even if they were underwater on their loans. If your mortgage balance is less than $625,000 and you have continued to make your payments on time, you have a good chance of being eligible to reduce your monthly payments.
Here is how it works:
Help for middle class homeowners
When the financial crisis hit, the government set up HARP to reward middle class homeowners who stuck it out and continued to make their monthly mortgage payments. The catch is that this program won’t last for long, so if you want to lower your mortgage payments, now is the time to act!
Banks aren’t happy
Think banks like HARP? No chance. Here’s why:
- They may lose your business. You’ve been paying your mortgage faithfully for years, even through the worst of times. But, it’s not a requirement to do your HARP loan through your current lender. In fact, you can find big savings by shopping around for the best rate.
- The average savings for most eligible households is $3,512 per year. There’s no way banks want to give up that type of money.
How to get started?
The best way to find the lowest rates is through a free website that compares available mortgage rates for consumers, and allows them to choose the best one. Sites such as Harp Refi Quotes offer consumers access to dozens of HARP lenders on its network. And if it turns out that you aren’t matched with a HARP lender, the site can connect you with a mortgage broker, attorney, or other service provider who may be able to assist you with your mortgage situation.