HARP Program (Can’t Refinance?)

Home  >>  HARP Program (Can’t Refinance?)

The Home Affordable Refinance Program (HARP) is a federal program of the United States, set up by the Federal Housing Finance Agency in March 2009, to help underwater and near-underwater homeowners refinance their mortgages. Unlike the Home Affordable Modification Program (HAMP), which assists homeowners who are in danger of foreclosure, this program benefits homeowners whose mortgage payments are current, but who cannot refinance due to dropping home prices in the wake of the U.S. housing market correction.

It’s not just about the rate anymore. Negative equity, strict underwriting and big bank backlogs are keeping many borrowers from taking advantage of these incredibly low mortgage rates.

Homeowners whose mortgage balance exceeds the current property value know the futility of trying to refinance. Refinancing options for so-called “underwater” mortgages are limited because most lenders require some equity in the property.

SERVICES

 

2nd Mortgage Rates

When you need money, sometimes a second mortgage is the answer. Second mortgages, also known as home equity lines of credit (HEL [...]

READ MORE
 

Can’t Refinance

If you've found that a refinance isn't for you, there may be another option for lowering your monthly mortgage payments — if y [...]

READ MORE
 

Loan Forgiveness

Under certain circumstances, the federal government will cancel all or part of an educational loan. This practice is called Loan [...]

READ MORE
 

Hamp Guidelines

The target of the program is 7 to 8 million struggling homeowners at risk of foreclosure by working with their lenders to lower [...]

READ MORE
 

Hamp Program

The Home Affordable Modification Program (HAMP) is designed to help financially struggling homeowners avoid foreclosure by modif [...]

READ MORE
 

Making Home Affordable

If you are having a tough time making your mortgage payments, you may be eligible for MHA's Home Affordable Modification Progra [...]

READ MORE