What are the new HARP Program Guidelines?
What are the new HARP Program Guidelines? 
The new HARP Program has been modified, in hopes it will be able to reach more homeowners in need of assistance. There are several important changes that have been made to the program, which will open up the edibility of nearly 1 million underwater homeowners. Here is a brief explanation of the changes:
• The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae
• The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009
• The mortgage cannot have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009
• There will no longer be a requirement to have 20% equity in the home
• The borrower must be current on their mortgage payment at the time of the refinance, with no late payment in the past six months and no more than one late payment in the past 12 months.
• Fannie Mae and Freddie Mac have done away with the requirement for a new appraisal
• HARP Program has been extended from June 30, 2012 through December 31, 2013
If you or someone you know needs help with the loan on their home, please call me today to discuss the available options. The HARP Program maybe an excellent choice to avoid foreclosure. As a Realtor with a Certified Distressed Property Expert (CDPE) Designation, I am able to help homeowners who are upside down on their mortgage. Call me today to learn more. 602-466-1136
