The Federal Housing Finance Agency extended the Home Affordable Refinance Program (“HARP”) for another two-years. It will how expire in December 2015.
If you are struggling with your payments, and worried about a future foreclosure or considering a short sale, this may be welcome news to you.
Over 2 million homeowners have refinanced with this program so far.
There are certain eligibility requirements, including the following:
– The loan must be owned or guaranteed by Fannie Mae or Freddie Mac.
– Loans must have been sold to Fannie or Freddie on or before May 31, 2009
– The mortgage can’t be one that was previously refinanced under HARP unless it is a Fannie Mae loan that was refinanced under HARP from March to May, 2009
– The Loan to Value ratio (loan balance as a percent of market value) must be greater than 80%.
– 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
If you do not meet the eligibility and believe you may have no other recourse to sell your house, give us a call at 205-390-1050 to discuss potential solutions. We Buy Houses in Birmingham from people in all types of situations, including properties with too much debt.
For more information about selling your Birmingham house fast, see our home page at www.WeBuyBham.com.
We also have a FREE REPORT about selling your house for top dollar available here: www.SellHouseReport.com.