If you’re not behind on your mortgage payments but have been unable to get traditional refinancing because the value of your home has declined, you may be eligible to refinance your Seattle mortgage through a Seattle Home Affordable Refinance Program (HARP) Mortgage. HARP refinance is designed to help you get a new, more affordable, more stable mortgage. Seattle HARP refinance program require a loan application and underwriting process, and refinance fees will apply. If you're underwater on your home mortgage (you owe more than the value), then consider looking into Seattle Refinance Harp, Seattle Harp Refinance Program, Seattle Harp Refinance Rates, Seattle Harp Mortgage Refinance and learn more or call our local Washington State HARP refinance lenders. Apply For a Seattle HARP (Home Affordable Refinance Program) Refinance Program. When you’re ready to see if your able to take advantage of a Seattle HARP refinance Call (888) 457-0011 to speak with a licensed Seattle mortgage broker or complete the fast quote form now for a free, not obligation mortgage quote. Lastly, don’t forget! The Home Affordable Refinance Program is not meant to save a home from foreclosure. It’s meant to give underwater homeowners a chance to refinance without paying PMI. If you need foreclosure help, call your current loan servicer immediately. Learn more about: Seattle Refinance Harp, Seattle Harp Refinance Program, Seattle Harp Refinance Rates, Seattle Harp Mortgage Refinance Eligibility You may be eligible for a Seattle HARP refinance loan if you meet all of the following criteria: § The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae. § The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009. § The mortgage cannot have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009. § The current loan-to-value (LTV) ratio must be greater than 80%. § The borrower must be current on the mortgage at the time of the refinance, with a good payment history in the past 12 months. *Eligibility criteria are for guidance only. Contact your mortgage servicer to see if you are eligible for HARP. If you have questions regarding you eligibility for a HARP refinance loan for your Seattle mortgage, speak to our HARP mortgage loan specialists today. Seattle Refinance Harp, Seattle Harp Refinance Program, Seattle Harp Refinance Rates, Seattle Harp Mortgage Refinance What Is HARP? HARP was started in April 2009. It goes by several names. The government calls it HARP, as in Home Affordable Refinance Program. The program is also known as the Making Home Affordable plan, the Obama Refi plan, DU Refi+, and Relief Refinance. In order to be eligible for a Seattle HARP refinance program : 1. Your loan must be backed by Fannie Mae or Freddie Mac. 2. Your current mortgage must have a securitization date prior to June 1, 2009 If you meet these two criteria, you may be HARP-eligible. If your mortgage is an FHA, USDA or a jumbo mortgage, you are not HARP-eligible. Underwater FHA mortgages can be refinanced via the FHA Streamline Refinance program. Underwater VA mortgages can be refinanced via the VA IRRRL mortgage program (VA Streamline Refinance). Washington State HARP Program : Questions and Answers Do these question-and-answers account for the "new" HARP mortgage program? Yes, everything you are reading is accurate as of today, . This post includes the latest changes as rolled out by the Federal Home Finance Agency on October 24, 2011, and as confirmed by Fannie Mae and Freddie Mac on November 15, 2011. HARP 2.0 was formally released by Fannie Mae and Freddie Mac March 17, 2012. Is "HARP" the same thing as the government's "Making Home Affordable" program? Yes, the names HARP and Making Home Affordable are interchangeable. How do I know if Fannie Mae or Freddie Mac has my mortgage? Fannie Mae and Freddie Mac have "lookup" forms on their respective websites. If my mortgage is held by Fannie Mae or Freddie Mac, am I instantly-eligible for the Home Affordable Refinance Program? No. There is a series of criteria. Having your mortgage held by Fannie or Freddie is just a pre-qualifier. My mortgage is held by Fannie/Freddie. Now what do I do? Find a recent mortgage statement and write "Fannie Mae" or "Freddie Mac" on it -- whichever group backs your home loan -- so you don't forget. Give that information to your lender when you apply for your Seattle HARP refinance. My mortgage is backed by Wells Fargo. Am I eligible for HARP? It's possible that your mortgage is backed by Wells Fargo, but the more likely answer is that Wells Fargo is just your mortgage servicer; the bank that collects your payments. Wells Fargo backs very few of its own loans. Most loans for which payments are sent to Wells Fargo are backed by either Fannie Mae or Freddie Mac. Double-check with Fannie Mae and Freddie Mac before assuming Wells Fargo backs your loan. My mortgage is backed by Bank of America. Am I eligible for HARP? Bank of America does back some of its own loans, but the more likely answer is that Bank of America is your mortgage servicer; the bank that collects your monthly mortgage payments. Bank of America backs very few of its own loans. For most loans for which payments are sent to Bank of America, Fannie Mae or Freddie Mac are the actual loan-backers. Double-check with Fannie Mae and Freddie Mac to make sure Bank of America doesn't hold your loan. My mortgage is backed by Chase. Am I eligible for HARP? There is a chance that Chase backs your loan, but what's more likely is that Chase is just your mortgage servicer; the bank that collects your payments each month. Chase backs very few of its own loans. For most loans for which payments are sent to Chase, you'll find that Fannie Mae or Freddie Mac are the actual loan-backers. Double-check with Fannie Mae's and Freddie Mac's websites to make sure your loan is not held by Chase. My mortgage is backed by CitiMortgage. Am I eligible for HARP? Your mortgage statement may have the CitiMortgage logo on it, but that doesn't necessarily mean that CitiMortgage back your loans. It's more likely that CitiMortgage is your mortgage servicer; the bank paid to process your payment each month. With most loans for which payments are sent to CitiMortgage, the actual loan-backer is Fannie Mae or Freddie Mac. Double-check with Fannie Mae's and Freddie Mac's websites to see if you can find your loan. My lender won't do HARP. Can I use HARP with another lender? Yes. You can do HARP with any participating lender. This is a major change from the original HARP program. The government is trying to get as many people access to the program as possible. What if neither Fannie Mae nor Freddie Mac has a record of my mortgage? If neither Fannie nor Freddie has record of your mortgage, your loan is not HARP-eligible. However, you may still be eligible for a "regular" refinance to lower rates. Use this form to get a rate quote to see your options. Or, if your mortgage is insured by the FHA, use the FHA Streamline Refinance program. The FHA Streamline Refinance helps underwater homeowners, too. Apply For a Seattle HARP (Home Affordable Refinance Program) Refinance Program. When you’re ready to see if your able to take advantage of a Seattle HARP refinance Call (888) 457-0011 to speak with a licensed Seattle mortgage broker or complete the fast quote form now for a free, not obligation mortgage quote. Lastly, don’t forget! The Home Affordable Refinance Program is not meant to save a home from foreclosure. It’s meant to give underwater homeowners a chance to refinance without paying PMI. If you need foreclosure help, call your current loan servicer immediately.
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