This is a fantastic program if you are able to qualify. Take advantage if you can because this will not be around very long.
Many of us have attempted to refinance in order to take advantage of today’s interest rates, only to find out our home value is too low to do so. The HARP program has been designed for those who cannot get traditional refinancing because the value of their home has declined.
Key points of the HARP refinance option:
- Your mortgage must be owned/guaranteed by Fannie Mae/Freddie Mac
- Your mortgage must have been securitized before June 1, 2009
If your mortgage meets these criteria, go to the following sites to learn more. And/or contact a mortgage broker to find out if you are eligible.