What is the Home Affordable Refinance Program, and how does it WorkPosted by Mortgage Trees on July 18th, 2019 What is The Home Affordable Refinance Program (HARP)? HARP is a refinancing federal mortgage program that helps homeowners who are struggling to pay their mortgage due to unexpected financial hardships. The overall purpose of the loan is to help homeowners get out from under their current mortgage situation. The benefits of the Home Affordable Refinance program is:
Do you qualify? There are specific qualifications that homeowners must do to apply for the program. Those include:
How to apply? To apply for a HARP loan, you will need to gather your financial and loan information such as mortgage statements, including information on a second mortgage, recent pay stubs, tax returns, etc. Mortgage companies will claim they are not participating in the HARP program even though they are required to. You should look for a mortgage company in Utah that is eager to service your requests. Once, you find a reliable mortgage company; they will let you know what you need and what to do to apply. The bottom line is that there is hope if you feel you are “underwater.” HARP has helped more than 3.4 million borrowers reduce their monthly mortgage payments, according to the Federal Housing Finance Agency. If you have a solid history of on-time payments, owe more on your house than it is worth, and meet all other requirements listed above. Contact a reliable Salt Lake City mortgage company like Mortgage Trees, to get started today. Like it? Share it! |