If my mortgage is held by Fannie Mae or Freddie Mac, am I instantly-eligible for your Home Affordable Refinance Program?
No. There is a number of criteria for that new 20112 HARP home loan. Getting your mortgage held by Fannie Mae or Freddie Mac is simply pre-qualifier.
My mortgage is held by Fannie or Freddie. What to do now do I do?
Locate a recent mortgage statement and write “Fannie Mae” or “Freddie Mac” into it – whichever group backs your home loan – and that means you don’t forget. Give that information to your lender whenever you make an application for your HARP home loan.
Imagine if neither Fannie Mae nor Freddie Mac carries a record of my mortgage?
If neither Fannie nor Freddie has record of your respective mortgage, your loan is ineligible for your HARP home loan. However, you may still be eligible for “regular” refinance to lower rates. Use our online form to get a rate quote to talk to your options. Or, in case your mortgage is insured by the FHA, make use of the same form or e-mail us. Much like the new 20112 HARP home loan the FHA Streamline Refinance helps under value homeowners, too.
Does HARP work the identical with Fannie Mae like with Freddie Mac?
Yes…absolutely, typically, the HARP home loan is identical with Fannie Mae like with Freddie Mac. There are some small differences, nevertheless they affect just a tiny, tiny portion of the general population. For everyone else, the policies work the same.
Am I qualified to receive the Home Affordable Refinance Program if I’m behind in my mortgage?
No. You need to be current on your own mortgage to secure a HARP Refinance.
Will a HARP Refinance help me prevent foreclosure?
No. The newest 20112 HARP home loan is just not made to delay, or stop, foreclosures. It’s meant to give greenies who are current on his or her mortgages, and who’ve lost home equity, the opportunity to refinance at today’s low increasing.
What are the minimum requirements for the HARP Refinance?
First, your home loan should be paid on-time for that prior Six months, and at least 11 of the very recent 12 months. Second, your mortgage should have been sold to Fannie Mae or Freddie Mac just before June 1, 2009. And, third, may very well not have used the HARP home loan before – only 1 HARP refinance per mortgage is allowed.
Basically refinanced with HARP not too long ago, can I put it to use again for HARP II?
No. You are able to exclusively use the HARP mortgage program 1 time per home.
Know more about HARP – Home loan at HARP of Refinancing Program and save your Home TODAY!
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