Do you have an "under water mortgage"? Do you owe more on your home that what it is currently worth? Homeowners with a loan under Freddie Mac or Fannie Mae now have the opportunity to refinance their home if their property value has gone down below what they owe on the property. This program provides customers who may not qualify under traditional underwriting criteria the opportunity to refinance their home.
The Home Affordable Refinance Program (HARP) has been extended to December 31, 2013 and allows homeowners to refinance into low mortgage interest rates even if the property has decreased in value.
To review the new HARP Mortgage program guidelines log on to www.harp-mortgage.com