The Home Affordable Refinance Program, also known as HARP 2.0, was released in March 2012 and gave borrowers an opportunity to refinance to a lower rate and save on their monthly mortgage costs. Before this program borrowers could owe no more than 125% of the value of their home. The new guidelines have no limit ...
Underwriting Requirements Relaxed What’s new: A more relaxed view on foreclosure and bankruptcy rules; meaning your HARP loan could be approved, regardless of how recently a borrower filed bankruptcy or experienced a foreclosure. What that means for you: As previously stated, you won’t be counted out for a mortgage late when that could normally eliminate ...
Originally announced in March 2009, HARP is a federal government program designed to help millions of underwater or near-underwater homeowners refinance into a fixed loan with a lower monthly payment.
