HARP 2.0 extended until December 31, 2015

on Sunday, 19 May 2013.

There’s good news for homeowners who meet qualifications for a HARP refinance: the Home Affordable Refinance Program (HARP) has been extended until December 31, 2015. Contact your lender if your mortgage and situation meets the following guidelines:

1) Your loan was originated before May 31, 2009

2)  Your loan is owned by either Freddie Mac or Fannie Mae.

3) Your loan is current, with no late payments made in the last six months.

4) Your loan-to-value ratio is eighty percent or greater (there are no longer upward restrictions on the loan to value ratio)

5) You have not received a prior HARP refinance.

HARP 2.0 is the federal government’s second version of this refinance program. Its goal is simply to lower the payments of homeowners who owe more on their mortgages than their houses are worth.  The catch, however, is that millions of underwater homeowners who loans are not owned by Freddie or Fannie do not have the same HARP refinancing options. Furthermore, those with origination dates after after May 31, 2009 have also been left out of the loop.

As of mid-May of 2013, speculation has arisen that HARP 3.0 could be in the future, though details are few and far between concerning new requirements.  Only time will tell if additional loan types are included.

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I want to say a huge thank you.  It feels a million times better knowing where we will be living, that we don't have to move, and I can actually afford to live here.  My life is no longer on hold, and we have been able to make plans for the first time in ages. There is no more black cloud of uncertainty hanging over my head always, waiting for the bank to dictate so much of my life. Thank you, thank you, thank you!
C. K.
There are no words to say how much you did for us and how much you helped us, you basically saved us.
B. A.
Thank you for taking the time to talk to me and put my heart at rest! I look forward to working with you to stay in our home.  I have an appointment with a housing counselor your referred us to and I will give you an update once that occurs.  Again, it meant so very much to me that you took the time to give me hope.
A. F.