Home Affordable Refinance Program Option

HARP IS A VIABLE OPTION EXCEPT MOST HOMEOWNER ARE NOT CURRENT ON THERE MORTGAGE PAYMENTS.

If you would like to refinance and take advantage of lower interest rates, but don’t think you can (or haven’t been able to) qualify, you may be eligible for the government’s Home Affordable Refinance Program (HARP).

What is HARP?

HARP is designed specifically to help borrowers who may be ineligible for traditional refinancing due to loss of home value or because they have little (or no) equity. Like other refinancing options, with HARP you receive a completely new mortgage with new terms, interest rates and monthly payments. The new loan completely replaces your current mortgage and may lower your payment, which could help improve your monthly financial situation.

HARP may be an option if:

• You are current on your mortgage payments (and haven’t been more than 30 days late in the last 12 months)
• Your home value has decreased
• Your first mortgage exceeds the current market value of the home
  (i.e., loan-to-value)
• Your loan is owned by Fannie Mae or Freddie Mac

What are the benefits?

How does it work?

If you qualify to refinance your mortgage through HARP, you’ll go through an application, approval and closing process (similar to when you got your original mortgage). Your mortgage company will work with you through every step, and will help determine if HARP meets your specific needs.

It Voluntary for Banks/Servicers. No Government incentive for Lender Servicer participation. If this doesn't work a Short Sale may be a viable option.