The Federal HARP (Home Affordable Refinance Program) program helps people refinance their homes, even if they are now worth less than what was originally paid. People in these situations often find it difficult or impossible to refinance their loans, yet this could help you greatly with the costs of your mortgage. The HARP program was created to help people like you, whose homes are underwater, get their mortgages refinanced.

Unlike other debt relief programs, HARP is not intended for homes that are in foreclosure or pre-foreclosure. In order to refinance under HARP, your mortgage must be current, and your payment history must be good over the last 12 months. Only loans owned or guaranteed by Freddie Mac or Fannie Mae are eligible.

One of the previous guidelines for the HARP program (more…)

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