Answers to commonly asked questions.
Q:What does HARP stand for?
A: Home Affordable Refinance Program
Q:When was the program introduced?
Q:When is it scheduled to end?
Q: What is the goal of the program?
A: Help borrowers with little or no equity to refinance to lower mortgage liability
Q: Does Fannie Mae or Freddie Mac have to own my loan in order to be eligible for a “HARP” refinance?
A: Yes, loan needs to be owned by Fannie Mae and Freddie Mac where note date is on or before May 31st 2009
Q: Where can I find out whether or not my loan is owned by Fannie Mae or Freddie Mac?
Q: Can you add or remove borrowers?
A: Yes, as long as one of the borrowers remains on the loan
Q: I owe more than my home is worth. If I meet other guidelines, can I still refinance?
A: Yes, as long as borrower meets other program requirements