Many Staten Island homeowners, homeowners in New York, New Jersey and around the country are taking advantage of the Home Affordable Refinance Program.

The Home Affordable Refinance Program is a part of the recently instituted program Making Home Affordable put in place by President Obama.  It provides low cost refinances for responsible home owners suffering from falling home prices and is only available for those involved in a Fannie Mae loan.

This program is designed to move you, the borrower from a high risk loan to a more stable low risk loan.  This results in you having a lower monthly payment by not oly reducing your interest but also by reducing your principle.

If you are considering refinancing your home but are not sure if refinancing is right for you, you can read more information about refinacing your loan by reading our article “Top 5 reasons why you should refinance your loan“.

If you are considering refinaning your loan on your New York or New Jersey home or if you would like more information on the refinancing process conact Staten Island real estate lawyer Steven T. Decker at 718.979.4300.