The HARP program is an initiative under the Government's Making Homes Affordable scheme. It is designed to help specific mortgage holders who have been unable to refinance their mortgages elsewhere. There are strict criteria in place.
HARP stands for Home Affordable Refinance Program. It is designed to help those who have been unable to arrange refinancing of their mortgage. The reason for this would be that that your property has declined in value. To qualify there are several criteria you must meet. These are given in brief below but you should inquire from your mortgage provider, that is whoever you make your payments to, about your eligibility for this type of home finance scheme.
So these are the main points. You must not be in arrears where your mortgage payments are concerned. Indeed you must not have got into arrears during the past 12 months nor had any other problems regarding repayment. The LTV ratio, that is current loan-to-value ratio, must be more than 80%.
Your loan or mortgage should be managed or at least sponsored by Fannie Mae. It should have been purchased by either of them prior to 31 May 2009. You should have no arrears and have had no repayment problems for a minimum of 12 months. Your current LTV or Loan-to-Value ratio has to be over 80%. This scheme should not have granted you assistance at any earlier time unless you have a Fannie Mae mortgage which was refinanced in the spring of 2009.
Contact the company to whom you make your repayments. Most mortgage providers are participants in HARP. If they yours are not, contact Fannie Mae or Freddie Mac for advice. Another mortgage servicing agent will be able to help you. It is a good idea to shop around a little, if you are eligible, to see what the best terms available are.
Refinancing your mortgage under the harp program will ease the burden of your repayments. This will allow you to reassess your finances. It will also reduce your sleepless nights.
HARP stands for Home Affordable Refinance Program. It is designed to help those who have been unable to arrange refinancing of their mortgage. The reason for this would be that that your property has declined in value. To qualify there are several criteria you must meet. These are given in brief below but you should inquire from your mortgage provider, that is whoever you make your payments to, about your eligibility for this type of home finance scheme.
So these are the main points. You must not be in arrears where your mortgage payments are concerned. Indeed you must not have got into arrears during the past 12 months nor had any other problems regarding repayment. The LTV ratio, that is current loan-to-value ratio, must be more than 80%.
Your loan or mortgage should be managed or at least sponsored by Fannie Mae. It should have been purchased by either of them prior to 31 May 2009. You should have no arrears and have had no repayment problems for a minimum of 12 months. Your current LTV or Loan-to-Value ratio has to be over 80%. This scheme should not have granted you assistance at any earlier time unless you have a Fannie Mae mortgage which was refinanced in the spring of 2009.
Contact the company to whom you make your repayments. Most mortgage providers are participants in HARP. If they yours are not, contact Fannie Mae or Freddie Mac for advice. Another mortgage servicing agent will be able to help you. It is a good idea to shop around a little, if you are eligible, to see what the best terms available are.
Refinancing your mortgage under the harp program will ease the burden of your repayments. This will allow you to reassess your finances. It will also reduce your sleepless nights.
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You can visit the website http://www.harploanprograms.com for more helpful information about harp program
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