Home Affordable Refinance Program


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Home Affordable Refinance Program

A federal program in the United States allowing persons who are underwater on their home mortgages to refinance. Eligibility for HARP includes homeowners whose mortgages are owned by Freddie Mac or Fannie Mae and who are current on their payments. Additionally, the value of the mortgage cannot exceed 125% of the value of the home.
References in periodicals archive ?
Hernandez said that only about 40 percent of HOPE Hotline callers who are current with their mortgage payments appear to qualify for the expanded Home Affordable Refinance Program (HARP 2.
Corr noted that Home Affordable Refinance Program (HARP) loans for high-loan-to-value (high-LTV) mortgages continued their resurgence in the August data.
Additionally, the Home Affordable Refinance Program aims to help four to five million homeowners with loans owned or guaranteed by Fannie Mae or Freddie Mac who are current on their mortgages to refinance into more affordable monthly payments.
Fitch anticipates that several catalysts for growth including reduced housing inventory, historical low interest rates, and government programs such as the Home Affordable Refinance Program (HARP 2.
The Credit Union offers an array of home loan products, including Home Affordable Refinance Program (HARP) loans, Fannie Mae Homepath Loans, Federal Housing Administration (FHA) and United States Department of Agriculture (USDA) loans, fixed loans, jumbo loans and adjustable rate mortgage (ARM) loans.
The December data on Home Affordable Refinance Program (HARP) volume released on March 13 by the Federal Housing Finance Agency (FHFA) showed a sharp drop in December volume compared with November's HARP production.
Expanded Home Affordable Refinance Program (HARP) provides refinancing loans and relief to homeowners
30, 2013, refinance share of mortgage activity is at 79% of total applications and the Home Affordable Refinance Program (HARP) share of refinance applications is at 26%.
Credit Union offers Home Affordable Refinance Program
paragraph] Through the Home Affordable Refinance Program (HARP) programs, recent announcements for non-government-sponsored enterprise (non-GSE) loans that are underwater and the Federal Reserve's actions, the government is attempting to ensure that as many homeowners as possible have the opportunity to refinance and take advantage of historically low interest rates.
As a result of this continuing problem, the government designed a pair of programs, the Home Affordability Modification Program (HAMP) and the Home Affordable Refinance Program (HARP), to aid these borrowers.
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