March 5th, 2010 5:00 PM

Via Gerry Michaels (Community Benefits Real Estate, Gettysbrug, Pa):

HARP Deadline Given One Year Extension

The Federal Housing Finance Agency stated today that the Home Affordable Refinancing Program (HARP) would be exptened for one more year. The program which is in place to assist homeowners with Fannie Mae or Freddie Mac loans with little or no equity in their homes. The program assists homeowners to refinance into lower interest rate mortgages, even though their homes value may have gone down due to the current economy.

The program began in April of 2009 and has refinanced over 190,180 mortgages to date will now expire in June of 2011. The requirements for participation in the program are as follows:

Must be an owner occupied home

Primary residence of 1 to 4 units

Loan to value ratio of no more than 125%

Homeowner must be current on mortgage payments

Loans must be owned either Freddie Mac or Fannie Mae

Additional information about the program can be found here

 

If you or a freind or family member is thinking of buying or selling a home, feel free to contact GettysburgGerry for assistance

If you or somebody you know would appreciate my services, please contact me with their information and I will be happy to help them.

                                                      

 

www.DaveYourMortgageGuy.com

"Helping You Thru the Whole Process"

David Krichmar

Mortgage Banker/Broker

Moncor Mortgage Bank

cell:832-689-6012

David.Krichmar@gmail.com

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