Making Home Affordable Refinance Program

Freddie mac is pleased to play a key role in sustaining homeownership and supporting the federal making home affordable program announced on march 4 2009. Based on the comments and emails i ve received on the topic it seems like. At the time we had already tried to refinance our mortgage once in january or february and had decided not to proceed because it would have meant that we would have to start paying pmi on our mortgage.

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In that post i gave a 10 000 foot view of the plan what it is designed to do and who will qualify for help under the program.

Making home affordable refinance program. A month or two ago i heard about the obama administration s making home affordable refinance program. The home affordable refinance program harp is a federal program of the united states set up by the federal housing finance agency in march 2009 to help underwater and near underwater homeowners refinance their mortgages unlike the home affordable modification program hamp which assists homeowners who are in danger of foreclosure this program benefits homeowners whose mortgage payments. The application deadline for assistance under mha programs expired on december 30 2016. Even if you owe more than your home is worth if your mortgage is owned by fannie mae or freddie mac you could save with harp.

For immediate assistance call 888 995 hope 4673 hearing impaired. Other programs under mha include. The making home affordable program of the united states treasury was launched in 2009 as part of the troubled asset relief program the main activity under mha is the home affordable modification program. Other programs assist homeowners with second liens underwater mortgages and those seeking a short sale or deed in lieu of foreclosure.

With the addition of the pmi it would mean that even though our rate would drop to just. The modification program comes with a 5 000 incentive to. Mha s principal component is the home affordable modification program hamp. Home affordable unemployment program up.

Home affordable refinance program harp if you re current on your mortgage but have had difficulty refinancing harp could provide a solution. 877 304 9709 tty let an expert from a hud approved housing counseling agency help you understand your options prepare your application and work with your mortgage company. Principal reduction alternative pra assists homeowners with a loan to value ratio exceeding 115 percent. The program was designed to provide these borrowers with an opportunity to refinance by permitting the transfer of existing mortgage insurance to their newly refinanced loan or by allowing those without mortgage insurance on their previous loan to refinance without obtaining new coverage.

As a freddie mac seller servicer you play a vital role in implementing this program and assisting borrowers who have freddie mac owned mortgages with. Lots of people looking to refinance a couple of days ago i did a pretty long post talking about the new making home affordable program that the obama administration passed earlier this year. The making home affordable refinance and modification program is designed to help homeowners refinance or modify their existing mortgage.