Steve and Lisa's Mortgage Morsels

Home Affordable Refinance Program 2 (HARP2) is finally here!

March 23rd, 2012 10:18 AM by Steve Iltis

This program enables homeowners to refinance an existing Fannie Mae or Freddie Mac mortgage regardless of the home’s current value. Call us today to find out if you qualify! 866-954-4252 (Toll free)

+ Eligibility

You may be eligible for HARP if you meet all of the following criteria:

•The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae.

•The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.

•The mortgage cannot have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.

•The current loan-to-value (LTV) ratio must be greater than 80%.

•The borrower must be current on the mortgage at the time of the refinance, with a good payment history in the past 12 months.

*Eligibility criteria are for guidance only. Contact your mortgage servicer to see if you are eligible for HARP.

+ Program Availability & Steps to HARP Refinance

•Determine whether your mortgage is owned or guaranteed by Fannie Mae or Freddie Mac by calling Iltis Lending Group (866) 954-4252 (Toll Free).

Posted in:General
Posted by Steve Iltis on March 23rd, 2012 10:18 AM


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