Home Affordable Refinance Program (HARP) allows homeowners who may be upside down on their home and consistently pay their existing mortgage on time to refinance their mortgage to take advantage of lower interest rates.
Criteria to determine HARP eligibility includes:
• You own a single family, 2-4 unit attached dwelling, condominium or townhouse that is your primary residence, second home or investment property.
• You are current with your mortgage payments and you have the income to support the new monthly payments
• If your current mortgage is owned by Fannie Mae or Freddie Mac and was taken on or before May 31, 2009
To see if your loan is owned by Fannie Mae: http://www.fanniemae.com/loanlookup
To see if your loan is owned by Freddie Mac: https://ww3.freddiemac.com/corporate