Home Affordable Refinance Program (HARP)

On March 4, 2009, the US Treasury announced the Making Home Affordable Program, which includes its Home Affordable Refinance Program, commonly known as HARP.

HARP is designed to help borrowers whose loans are held by Fannie Mae or Freddie Mac refinance into a more affordable mortgage. You may be eligible if:

• You are the owner-occupant of a one-to-four unit home,
• The loan on your property is owned or securitized by either Fannie Mae or Freddie Mac
• You are current on your mortgage payments (if you are not current you may be eligible for the Home Affordable Modification program)
• You believe that the amount you owe on your first mortgage is about the same or slightly less than the current value of your house,
• You have income sufficient to support the new mortgage payments, and
• The refinance improves the long term affordability or stability of your loan.

To determine if your loan is owned or securitized by Fannie Mae or Freddie Mac, you can contact them directly at:

Fannie Mae
1-800-7FANNIE (8am to 8pm EST)
www.fanniemae.com/loanlookup

Freddie Mac
1-800-FREDDIE (8am to 8pm EST)
www.freddiemac.com/mymortgage

More information is available at the Making Home Affordable website.