HARP 2.0 CAN HELP!
What is HARP? HARP is Home Affordable Refinance Program (HARP). How does this affect you? HARP is designed to help home owners that have been unable to get traditional refinancing due to the decrease in home value and may not have enough equity or no equity at all. Home owners can actually be upside down on their mortgage and still be eligible.
Who is eligible?
- The mortgage must be owned or guaranteed by Freddi mac or Fannie Mae
- The mortgage must have been sold to Fannie Mae or Freddie mac on or before May 31, 2009.
- The mortgage cannot have been refinanced under HARP previously
- The current loan to value ratio needs to be greater than 80%
- The borrower must be current on their mortgage at the time of the refinance with a good payment history in the past 12 months
As of January 9, 2012 HARP Guidelines have changed. Prior t