Refinance program for homeowners that is affordable

HARP Now Allows More Homeowners to Refinance

Federal regulators made important changes to HARP. This Home Affordable Refinance Program was created to assist borrowers who owe more than the value of their home. Due to the significant decline in their home’s value, many homeowners cannot pay their mortgages on schedule. A Home Affordable Refinance can help homeowners refinance their first mortgage, even if they owe more than their home’s value.

HARP Refinance program Enhancements

• You can be “underwater” if you owe more than 100 per cent of your home’s value. There’s no limit to the amount you owe on your home’s value.
• The program is extended until December 31, 2013.
• In the last 6 months, you must not be more than 30 days late on your mortgage.

Contact a non-profit mortgage advisor from credit.org to find out if you are eligible and how to apply for the HARP Program. Credit.org is a HUD-approved agency. A review of your individual financial and mortgage situation is done. An action plan detailing your next steps will also be prepared for you.