|
The Home Affordable
Refinance Program
(HARP)
HARP
Borrower Frequently Asked Questions PDF
The Obama Administration has introduced
a comprehensive Financial Stability Plan to address the key problems at
the heart of the current crisis and get our economy back on track. A
critical piece of that effort is Making Home Affordable, a plan to
stabilize our housing market and help up to 7 to 9 million Americans
reduce their monthly mortgage payments to more affordable levels.
The Home Affordable Refinance Program gives up to 4 to 5 million
homeowners with loans owned or guaranteed by Fannie Mae or Freddie Mac
an opportunity to refinance into more affordable monthly payments. The
Home Affordable Modification Program commits $75 billion to keep up to 3
to 4 million Americans in their homes by preventing avoidable
foreclosures.
The consumer website,
www.MakingHomeAffordable.gov, provides homeowners with
detailed information about these programs along with self-assessment
tools and calculators to empower borrowers with the resources they need
to determine whether they might be eligible for a modification or a
refinance under the Administration's program.
If you are considering refinancing your
home, please do take the time to look through this website for very
helpful information.
Through this website, borrowers can
also connect with free counseling resources to help with outstanding
questions; locate homeowner events in their communities; find a handy
checklist of key documents and materials to have ready when making that
important call to their servicer as well as FAQs from borrowers in
similar circumstances - and much more.
We hope that you will find this website informative and useful as we all
work together to solve our nation’s housing crisis and put our country
on the path to a lasting economic recovery. |
