September 23, 2013 by Leave a comment


FHFA Launches Campaign for the HARP Program by Patrick Merryman


The FHFA launched a program today to properly inform homeowners all over the country about the HARP program. The Home Affordable Refinance Program (HARP) is in place to give homeowners an option to refinance even if their home has lost some value.  HARP was designed to help get a more affordable and stable mortgage and has been proven to work for families all over.


HARP is working with mortgage companies across the country and even bringing in TV personalities from HGTV to reach as many homeowners that qualify as possible.



Earlier today, the Chicago Tribune boasted 60,000 underwater homeowners all of whom were eligible for the program proving that there are many people not well enough informed.


For homeowners underwater that want to refinance and are eligible, the HARP program is a no brainer. It’s the only program of its kind and has helped 2.8 million homeowners refinance since 2009. Despite its success, the FHFA acting director Edward Demarco believes many more people stand to benefit.


“With the launch of this campaign we look forward to reaching those homeowners who may not know about the program…” said Demarco.


In order to qualify for a HARP loan you must meet the following:


• The loan must be owned or guaranteed by Fannie Mae or Freddie Mac.


• The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.


• The current loan-to-value (LTV) ratio must be greater than 80 percent.


• The borrower must be current on their mortgage payments with no late payments in the last six months and no more than one late payment in the last 12 months.


Call Total Mortgage today to discuss if the HARP program is something that will work for you. You could find out that there are more options that you thought.


Find out if your home is owned by Fannie Mae or Freddie Mac by visiting or'

Patrick Merryman is a Siena College Graduate that has been writing on Real Estate for over two years. Patrick writes on topics ranging from mortgage projections to green living for numerous blogs.

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