Currently, the FHFA estimates there are more than 300,000 U.S. homeowners that could still refinance through HARP. Both the Home Affordable Modification Program and HARP were originally launched in 2009 to provide relief to borrowers by lowering their monthly payments and were set to expire on Dec. 31, 2013. read more
The borrower MUST be current on the mortgage at the time of the refinance, with no late payment in the past six months and no more than one late payment in the past 12 months. You have a reasonable ability to pay the new mortgage payments. The refinance improves the long term affordability or stability of your loan. read more