Take Advantage Of The HARP Loan Program; There Is Still Time

Take Advantage Of The HARP Loan Program; There Is Still Time In March 2009, the Federal government launched the Home Affordable Refinance Program, or HARP, to help homeowners get out from their underwater loans. After a national housing crash, thousands of... More

Take Advantage Of The HARP Loan Program; There Is Still Time In March 2009, the Federal government launched the Home Affordable Refinance Program, or HARP, to help homeowners get out from their underwater loans. After a national housing crash, thousands of people found themselves owing more on their homes than they were worth. The Obama Administration came up with the HARP Loan Program so that people could refinance their existing loans. So that responsible homeowners could stop being pulled under financially by mortgage debt, the objective of the program was to minimize monthly payments, convert to a far more stable mortgage, or both. Who Is a HARP Loan For? HARP is designed for people who have a very good history of paying their mortgage, but who cannot get a lender to refinance their loan because of dropping home values. Borrowers who satisfied the requirement of a loan-to-value ratio (LTV) of less than 80% when they bought their property suddenly had negative equity in their home a Less