HARP 2.0 - FLORIDA

UNDERWATER REFI PROGRAM

Presented by:

Kurt BierekDirector of MarketingOJ Mortgage Co., Inc.Direct: (813) 453-3845

KBierek@OJMortgage.com

© 2011 | OJ Mortgage Co., Inc. | 29190 US 19 N | Clearwater, FL 33761 | FL Reg/Lic #: MBR508 | NMLS ID: 342260

© 2011 | OJ Mortgage Co., Inc. | FL Reg/Lic #: MBR508 | NMLS ID: 342260

FACT

Nearly 2 Million Properties in Florida are UNDERWATER

Source: CoreLogic Q2 (2011) Negative Equity Report

Is Your House UNDERWATER?

© 2011 | OJ Mortgage Co., Inc. | FL Reg/Lic #: MBR508 | NMLS ID: 342260

© 2011 | OJ Mortgage Co., Inc. | FL Reg/Lic#: MBR508 | NMLS ID: 342260

HARP 2.0 Underwater Refi Overview

Unlimited Loan-to-Value (LTV) – Qualified borrowers can refinance without concern if they owe more on their mortgage than their property is worth.

No Appraisal – In most cases, there is no appraisal required. This will save each borrower approximately $300 - $400.

No Income Verification – That’s right! In most cases, no proof of income is required (no paystubs, no W-2’s, no tax returns).

Relaxed Credit Score Requirements – Borrowers do not need A+ credit to qualify for HARP 2.0 (minimum score of 620 is expected).

All Property & Occupancy Types – Single family homes, townhomes, condos, 2nd homes & investment properties are all eligible.

“HARP” (Home Affordable Refinance Program) was established in 2009 by the Federal government for certain residential mortgages owned by Fannie Mae and Freddie Mac. On November 15, 2011, Fannie Mae and Freddie Mac announced updates to HARP to expand its availability to more struggling homeowners to allow them the opportunity to refinance into today’s incredibly low interest rates. This updated program is commonly referred to as “HARP 2.0.”

HARP 2.0 Underwater Refi Program Highlights

© 2011 | OJ Mortgage Co., Inc. | FL Reg/Lic#: MBR508 | NMLS ID: 342260

HARP 2.0 Requirements & Eligibility

The existing 1st mortgage must have been obtained by the borrower before June 1, 2009 and it must be owned by either Fannie Mae or Freddie Mac.

At the time of application, the borrower must be current on their mortgage payments for the past six (6) months and have no more than one (1) late payment in the prior twelve (12) months.

The new 1st mortgage amount must be greater than 80% of the home’s current value.

The existing 1st mortgage cannot have been previously refinanced under HARP.

The new 1st mortgage amount cannot exceed maximum conforming limits (typically $417,000).

Do You Pre-Qualify For HARP 2.0?

HARP 2.0 Underwater Refi Questionnaire

Please click on the link below to complete the OJ Mortgage HARP 2.0 Underwater Refi Questionnaire to see if you pre-qualify to refinance with us under the HARP 2.0 Underwater Refi Program. Due to the large number of applications projected to be submitted for this program in Florida, we highly recommend completing this form and submitting it to us as soon as possible. Doing so will ensure that your file is submitted ahead of the rush and will give you a distinct advantage over those who make the mistake of working directly with a bank.

OJ Mortgage HARP 2.0 Underwater Refi Questionnaire

OUR COMMITMENT TO YOU

There is absolutely no cost or obligation whatsoever for submitting the OJ Mortgage HARP 2.0 Underwater Refi Questionnaire. Its sole purpose is to provide our valued clients (you!) a head start and distinct advantage over other applicants. All information you provide to us is strictly confidential and will not be sold, shared or otherwise provided to any third parties.

© 2011 OJ Mortgage Co., Inc. | FL Reg/Lic#: MBR508 | NMLS ID: 342260

© 2011 | OJ Mortgage Co., Inc. | FL Reg/Lic#: MBR508 | NMLS ID: 342260

About OJ Mortgage

Established in 1994, we do business the old fashion way - one by one, family by family.  We maintain full processing & closing departments to ensure that your loan is closed on time and that you always receive excellent personalized service throughout your transaction.

We provide you with the mortgage program you want based on your specific needs & circumstances. Our interest rates & closing costs are always among the lowest available and, in many cases, we can provide you with a no closing cost or limited closing cost option. Our full range of mortgage products include: Conventional, FHA, VA, Portfolio & our featured program, the HARP 2.0 Underwater Refi.

We take our obligation to you very seriously and sincerely appreciate the opportunity to assist you with your mortgage financing needs. Purchases, refi’s, advice – whatever you need.

OJ Mortgage Co., Inc. – proudly serving Floridians since 1994.

Kurt BierekDirector of MarketingOJ Mortgage Co., Inc.Direct: (813) 453-3845Office: (727) 773-0505

Fax: (727) 773-0606KBierek@OJMortgage.com

© 2011 | OJ Mortgage Co., Inc. | FL Reg/Lic: MBR508 | NMLS ID: 342260

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©2011 | OJ Mortgage Co., Inc. | FL Reg/Lic#: MBR508 | NMLS ID: 342260

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© 2011 | OJ Mortgage Co., Inc. | FL Reg/Lic#: MBR508 | NMLS ID: 342260

Freddie Mac and Fannie Mae have adopted changes to the Home Affordable Refinance Program (HARP) and you may be eligible to take advantage of these changes | If your mortgage is owned or guaranteed by either Freddie Mac or Fannie Mae, you may be eligible to refinance your mortgage under the enhanced and expanded provisions of HARP | You can determine whether your mortgage is owned by either Freddie Mac or Fannie Mae by checking the following websites: www.freddiemac.com/mymortgage or http://www.fanniemae.com/loanlookup/.

*Some restrictions may apply.

**The information herein is accurate as of 12/30/11 and is subject to change without notice.

Disclaimer

© 2011 | OJ Mortgage Co., Inc. | FL Reg/Lic#: MBR508 | NMLS ID: 342260

Questions?

Kurt BierekDirector of MarketingOJ Mortgage Co., Inc.

29190 US Hwy 19 NorthClearwater, FL 33761

Direct: (813) 453-3845Office: (727) 773-0505

Fax: (727) 773-0606KBierek@OJMortgage.com