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HARP

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. The changes are designed to allow even more homeowners an opportunity to refinance to a lower rate and shorter term even if they owe more than their home is worth. Unlimited LTV available for owner occupied properties and 150% LTV on Investment. This program may be an affordable refinance option for homeowners who would not otherwise qualify for a traditional refinance.
 
You may be eligible to refinance under HARP if:
• You are current on your mortgage payment, with no late payment in the past six months and no more than one 60 day late payment in the past 12 months.
•Your existing loan was closed on or before May 31, 2009.
•You have not already refinanced the same property in the past under the HARP Program.
•Your existing loan is owned or guaranteed by either Freddie Mac or Fannie Mae.
 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:
 
Freddie Mac loan look up:

https://ww3.freddiemac.com/corporate
 
Fannie Mae loan look up:

http://www.fanniemae.com/loanlookup


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