The Home Affordable Refinance Program (HARP) will end on Oct.1, but that doesn't mean that homeowners with negative or low equity won't be able to refinance their mortgages.
Just because you were able to get a mortgage in the past doesn't mean you'll be able to refinance your home.You still have to go through the same steps you did with your original mortgage.
The HARP refinance program[https://www.mortgageloan.com/depth-guide-harp-20-9044] has enabled millions of low- and negative-equity homeowners to save billions of dollars by refinancing their mortgages to a new loan at a lower interest rate.But reducing your mortgage rate isn't the only benefit HARP can provide.
Qualified homeowners are getting an extra year to reduce their mortgage payments through the federal HARP and HAMP initiatives, now that the deadlines for both programs have been extended by the Federal Housing Finance Agency (FHFA).
New Year's Day has come and gone, but there's still one more resolution you should make: get a HARP refinance for your underwater or low-equity mortgage, if you haven't done so already.
More than 3 million mortgages have now been refinanced through the Home Affordable Refinance Program (HARP), a milestone the once-beleaguered federal program reached in November.
As many as half of all homeowners have never refinanced their mortgages, despite refinance mortgage rates[[sitetree_link,id=13]] falling to historic lows over the past three years, according to a new study by Fannie Mae.
Applications for mortgage refinancing[[sitetree_link,id=13]] have been dwindling as rates have risen in recent months.But if you haven't been able to refinance yet, those higher rates might represent an opportunity.