Here is an update on HARP refinancing from The MortgageReports:
The HARP mortgage is a home loan refinance program launched in March 2009, which gives homeowners whose homes have lost value the ability to refinance to current mortgage rates without incurring new mortgage insurance, regardless of loan-to-value (LTV). HARP stands for “Home Affordable Refinance Program” and is available to homeowners until December 2016.
This HARP Guidelines for 2016 loan information is accurate and current as of today, June 2, 2016.
If you’re underwater on your conforming, conventional mortgage, you may be eligible to refinance to today’s mortgage rates without paying down principal and without having to pay mortgage insurance.
These are the details of the government’s HARP refinancing program.
What Is A HARP Loan?
The HARP refinancing program was started in April 2009. It goes by several names. The government calls it the Home Affordable Refinance Program.
The program is also known as Making Home Affordable, the Obama Refi, A Better Bargain For U.S. Homeowners, DU Refi Plus, harp mortgage and Relief Refinance.