Refinancing Through HARP
Homeowners who want to refinance face a major hurdle if they owe more on their home than what it's worth. The U.S. government created the Home Affordable Refinance Program (HARP) specifically for consumers who have suffered a reduction in their home’s value and are now underwater, allowing them to refinance and borrow more than 100 percent of the property's value.
Originally scheduled to end in December 2013, HARP has been extended through the end of 2015. However, while many expected the program to be opened up to all qualifying loans, it is still limited to only those loans backed by either Fannie Mae or Freddie Mac.If you want to find out if you meet eligibility criteria for HARP or any other refinance or modification programs, contact GreenPath at 888-776-6735 to schedule a housing counseling appointment.