HARP: Home Affordable Refinance Program
HARP: Home Affordable Refinance Program was rolled out in April, 2009.
This program was designed to help homeowners who have had significant reductions in their property values finally be able to refinance their homes.
HARP allows a loan-to-value ratio set at 105% and under the Obama Administration this number has become 125%.
- You must be current on your payments in order to qualify for the refinancing.
- You cannot take cash out.
- Your current loan must be with a Fannie Mae or Freddie Mac lender.
- The refinancing must be completed with a Fannie Mae or Freddie Mac approved lender.
- The new loan will include mortgage insurance.
Visit http://makinghomeaffordable.gov/refinance_eligibility.html for more details.
Need more information? Call Joe Elizondo of Northeast Financial at 323-256-7833 or email Joe at neast-financial @ sbcglobal.net.
September 23, 2009 | Filed Under Loan Modification | Need more information? Call Joe Elizondo of Northeast Financial at 323-256-7833 or email Joe at neast-financial @ sbcglobal.net
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