HARP 2.0 Refinance Loan Program Extended to 2015


 

By Joseph Small

HARP 2 Home Loan RefinanceArizona homeowners with a Fannie Mae or Freddie Mac owned mortgage will be able to refinance their mortgages under the Home Affordable Refinance Program or HARP for another two years.

The Federal Housing Finance Agency announced Thursday that Fannie and Freddie’s Home Affordable Refinance Program, which was set to expire Dec. 31, will be extended until the end of 2015. FHFA Extends HARP to 2015

“More than 2 million homeowners have refinanced through HARP, proving it a useful tool for reducing risk,” said FHFA acting director Edward DeMarco, in a statement.

According to the most recent data, in January alone, one in five refinancings of Fannie and Freddie-backed loans occurred under HARP. Of the loans refinanced under the program that month, 25 percent had a loan-to-value ratio of greater than 125 percent.

To be eligible to participate, there are three (3) main criteria that you should be aware of about the HARP home loan refinance program:

1. Your loan must be owned by Fannie or Freddie (we can find out for you if you don’t know). ASK US: Click HERE
2. Your loan has had to be on Fannie or Freddie’s books since June 1, 2009.
3. You cannot have any late mortgage payments in the last 6 months, and only 1 30-day late payment in the past 12 months.

If you meet the above criteria and would like to get more information or perhaps get started with the process, then just give us a call. 520-303-5620.

Guild Mortgage Co. is a Direct HARP 2 Loan Lender. Joseph Small and his team at Guild Mortgage Co. is your trusted source for all your HARP refinance loan needs in Tucson, Phoenix, Sierra Vista, Sahuarita, Green Valley and Nogales, Arizona. Give them a call today! Maybe one day you too will say, “Joe’s My Lender!” (520) 303-5620


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