HARP extended into 2017HARP extended into 2017https://www.recenter.tamu.edu/news/newstalk-texas/?Item=143612016-08-26T05:00:00Z2016-08-26T16:00:00Z

​​WASHINGTON, D.C. – The Federal Housing Finance Agency has extended the Home Affordable Refinance Program (HARP) until Sept. 30, 2017, to create a smoother transition period for a new refi product it is planning to launch toward the end of 2017.​​​​​

Also, Fannie Mae and Freddie Mac will implement a new refinance offering aimed at borrowers with high loan-to-value ratios.

To qualify for the new High LTV program, the borrower:

  • must not have missed any mortgage payments in the previous six months;
  • must not have missed more than one payment in the previous 12 months;
  • must have a source of income; and
  • must receive a benefit from the refinance in one of the following ways:
    • reduced monthly principal and interest payment;
    • lower interest rate;
    • shorter amortization term; or​
    • more stable mortgage product, such as moving from an adjustable-rate mortgage to a fixed-rate mortgage. ​​
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