HARP

Fannie Mae and Freddie Mac have loosened restrictions on refinancing with the new HARP (Home Affordable Refinance Program) designed to reignite the mortgage industry by streamlining the refinance process for millions of Americans.  This program was designed to help homeowners who have not been late with their monthly mortgage payments, yet are unable to benefit from the historically low mortgage rates by refinancing because the value of their home has declined so greatly.

HARP Guidelines:

• HARP has been extended through the end of 2013
• In order to be eligible, loans must have been purchased by Fannie Mae or Freddie Mac prior to May 31, 2009 and have loan-to-value ratios of at least 80%.
• The 125% LTV cap on fixed rate mortgages has been eliminated (there is still an LTV cap of 105% on adjustable rate mortgages).
• To qualify, borrowers must be current on their mortgage for the last six months, and have no more than one late payment over the past year.
• New appraisals may not be needed to qualify.

MarketTouch Direct has identified the most likely candidates eligible for a refinance by the new guidelines set forth by Fannie Mae and Freddie Mac.  We utilize our Proprietary Mortgage Database and the following selects:  Fannie or Freddie Loans, LTV, Loan Amounts, Payment History, Loan Date, and many others.

MANY PEOPLE WILL BE LOOKING TO REFINANCE UNDER THIS PROGRAM BEFORE THE END OF 2013!!! 

Don’t miss out on the opportunity to help your customers refinance their loan!!  Call 877-569-3837 to get started today!!