(305) 290-4263 More Relief from Making Home Affordable--must be current
The new Federal Housing Finance Agency regulates Freddie Mac, Fannie Mae and 12 Federal Home Loan Banks. FHFA
This improved HARP program will continue to be available to borrowers with loans sold to the Enterprises on or
before May 31, 2009 with current loan-to-value (LTV) ratios above 80 percent. The enterprises are Freddie Mac and Fannie Mae. Here is FHFA News Release (pdf)
Some Highlights:
You must be current on your mortage or have only been late once in the last 12 months.
The new program enhancements address several other key aspects of HARP including:
Eliminating certain risk-based fees for borrowers who refinance into shorter-term
mortgages and lowering fees for other borrowers;
Removing the current 125 percent LTV ceiling for fixed-rate mortgages backed by
Fannie Mae and Freddie Mac;
Waiving certain representations and warranties that lenders commit to in making loans
owned or guaranteed by Fannie Mae and Freddie Mac;
Eliminating the need for a new property appraisal where there is a reliable AVM
(automated valuation model) estimate provided by the Enterprises; and
Extending the end date for HARP until Dec. 31, 2013 for loans originally sold to the
Enterprises on or before May 31, 2009.
This improved HARP program will continue to be available to borrowers with loans sold to the Enterprises on or
before May 31, 2009 with current loan-to-value (LTV) ratios above 80 percent. The enterprises are Freddie Mac and Fannie Mae. Here is FHFA News Release (pdf)
Some Highlights:
You must be current on your mortage or have only been late once in the last 12 months.
The new program enhancements address several other key aspects of HARP including:
Eliminating certain risk-based fees for borrowers who refinance into shorter-term
mortgages and lowering fees for other borrowers;
Removing the current 125 percent LTV ceiling for fixed-rate mortgages backed by
Fannie Mae and Freddie Mac;
Waiving certain representations and warranties that lenders commit to in making loans
owned or guaranteed by Fannie Mae and Freddie Mac;
Eliminating the need for a new property appraisal where there is a reliable AVM
(automated valuation model) estimate provided by the Enterprises; and
Extending the end date for HARP until Dec. 31, 2013 for loans originally sold to the
Enterprises on or before May 31, 2009.
Posted by Mr. Misdemeanor at 2/7/2012 3:45 PM 
Categories: uncategorized
Tags: making home affordable HAMP HARP HAFA UP FHFA Federal Housing Finance Agency fannie mae freddie mac 12 Federal Home Loan Banks news release May 31 2009 December 31 2013 foreclosure defense miami fort lauderdale broward dade U.S. Treasury HHF hardest hit fund HAUP unemployed
Categories: uncategorized
Tags: making home affordable HAMP HARP HAFA UP FHFA Federal Housing Finance Agency fannie mae freddie mac 12 Federal Home Loan Banks news release May 31 2009 December 31 2013 foreclosure defense miami fort lauderdale broward dade U.S. Treasury HHF hardest hit fund HAUP unemployed
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