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Fannie Mae Refinance Program – Will Expand Even More in 2012
 
 As we recently wrote about, the Fannie Mae HARP refinance program has now been expanded to allow more homeowners the option to refinance and take advantage of historically low interest rates. Starting December 1, 2011 the program will allow homeowners to refinance their existing home loans, up to 125% of their current home values. However, there will be an even bigger expansion of the program in 2012.
 
There are of course certain guidelines that must be met to qualify for this refinance program, as we have covered in recent articles. However, the most important of those being that your current home loan is owned by Fannie Mae, which can be looked up at: http://www.fanniemae.com/loanlookup. And in addition, your loan must have been sold to Fannie Mae prior to June 1, 2009.
 
            Now, if your home loan does fall into these guidelines, then come March 1, 2012 the program will lift the 125% cap on loan to value (size of your home, as opposed to the value of your home) and have not set loan to value limit. This means that essentially, no matter how upside down your home is. If you fit into Fannie Mae’s guidelines, they ... more

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