The World According to HARP 2.0 - New mortgage refinance eBook now available from Western Bancorp

July 10, 2012   Business News
(PRLEAP.COM) With the average rate on the 30-year fixed-rate loan dipping to 3.62 percent in July, interest in refinancing continues to be strong among homeowners. These rates are the lowest since long-term mortgages became popular in the 1950s, according to government-sponsored mortgage buyer Freddie Mac.

Homeowners wondering if HARP will help can download a free eBook, The World According To HARP 2.0, for answers about the Home Affordable Refinance Program. The free eBook, created by San Jose based Western Bancorp, is available at

HARP was created to address the problem faced by millions of homeowners who have been unable to take advantage of historically low mortgage refinance rates because their property values have fallen.

Those homeowners who qualify for HARP 2.0 can expect to save an average of $2,500 per year on mortgage payments. HARP 2.0 is unique in that it is the only refinance program that enables eligible borrowers with little to no equity in their homes to take advantage of low interest rates and other refinancing benefits, according to Fannie Mae.

The expectation for HARP 2.0 refinancing is to put responsible borrowers who have stayed current on their mortgages in a better position by:

  • Reducing monthly principal and payments
  • Cutting interest rates and the loan terms
  • Refinancing interest-only or short-term adjustable rate loans to fixed-rate mortgages

  • "HARP 2.0 can help homeowners even if they owe much more than their home's value on their mortgage. With no loan-to-value restriction, many homeowners who could not refinance before are now back in the game," said Western Bancorp CEO Rick Soukoulis. "Some homeowners are frustrated by complexity of HARP guidelines or lenders who are not fully participating in the program. We created the free 'World According to HARP' eBook and our HARP hotline at 408.600.0700, to help California homeowners with refinancing questions."

    Questions? California homeowners can call 408.600.0700 today to learn more, or download the eBook at
    Contact Information
    Charles Warnock
    Western Bancorp
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