Frequently Asked Questions About the Home Affordable Refinance Program (HARP)
1. Am I Eligible for HARP?
Answer: First, you have to have a home where the financing was guaranteed and sold to either Fannie Mae or Freddie Mac on or prior to May 31, 2009. In addition, The current Loan-To-Value Ration must be greater than 80 percent. You must have made all your mortgage payments in the past six months and you cannot have missed more than ONE payment in the last twelve months.
2. If I Met These Basic Requirements...What Do I Do Next?
Answer: First, you need to determine if your mortgage is owned either by Fannie Mae or Freddie Mac. Click "Who Owns My Mortgage" to easily determine the answers.
3. When Does The Program Start?
Answer: The planned announcement was for November 14th, 2011.
4. What Lenders are Participating in the HARP Program?
Answer: Fidelity Funding Mortgage Corporation is authorized to provide refinancing for the HARP Program. Other lenders are also authorized.
5. What is the HARP 2.0 Program? How Can I Sign Up?
Answer: HARP 2.0 is the newest program to allow homeowners who have made on-time payments for the last 12 months to lower their payments. If you already took advantage of HARP 1, you will not be able to participate in HARP 2.0. To find out if you qualify, click the HARP 2.0 button below