President Obama has rolled out the HARP program as part of the new stimulus package.
This program was designed to help homeowners who have had significant reductions in their property values finally be able to refinance their homes.
In most cases, you will not need to verify your income or assests to qualify or need a full appraisal done. Appraised values will be determined by an automated system throught your lender.
Not everyone will be eligible for the program, including most homeowner’s who pay PMI (mortgage insurance premiums).
Eligibility is also determined by who services your mortgage and who originated it.
If you received your mortgage through me – to find out if you are eligible for this program through me, please contact me at corinne.guerra@rwfmortgage.com or call me at 847-512-2775.
If you did not receive your current mortgage from me, I cannot offer HARP to you. Please contact a someone from your lender directly.
I am currently trying to refinance my home of two years. My current rate is 7.25 and I do not have bad credit. I purchased my home through the CDA program in MD. What do I need to do to qualify for the HARP Loan.
Thanks
Barbara Freeland (301) 336-6580
Hi Barbara,
It depends on your lender and the type of mortgage you have. The HARP loan is designed to help homeowners with Fannie Mae and Freddie Mac loans refinance with lower appraised values. I’m not sure if the CDA program is a Fannie Mae or Freddie Mac program but you can find out if you are eligible for HARP by checking your eligibility with your current lender.
Best Regards,
Corinne
WOW!!!!! that was just what i needed to know, helpfull and to the point, please keep up the brilliant work and i will be back for more soon!