The new improved version of the Home Affordable Refinance Program has arrived in the form of HARP 2.0. These are available for Fannie Mae and Freddie Mac owned loans. I am focusing on the Fannie Mae loans today. To find out if your current loan is owned by Fannie Mae, here is the web site to check: Fanniemae.com/loanlookup. The current loan must have been closed and delivered to Fannie Mae by May 31, 2009.
Different lenders have their own risk overlays. Some do not allow loans with existing … (2 comments)
There are loan programs that really help homeowners that owe more on their homes than their home is worth. HARP is an acronym for Home Affordable Refinance Program. These loan programs allow homeowners to refinance into lower interest rates and more stable loan programs.
It is possible for a home owner owing $180,000 on their mortgage to refinance even though their home is valued at $144,000. This is 125% loan to value. And, if there is no private mortgage insurance being paid now, then there won’t be any PMI going … (1 comments)
Underwater on your home mortgage? HARP 2.0 has arrived. 
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