Updated Guidelines for HARP 2.0 Refinance of Louisville Kentucky Mortgage Loans
What is HARP / HARP 2 ?
Who is eligible for HARP? You may be eligible if:
- The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae.
- The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.
- The mortgage cannot have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.
- The current loan-to-value (LTV) ratio must be greater than 80%.
- The borrower must be current on the mortgage at the time of the refinance, with no late payment in the past six months and no more than one late payment in the past 12 months.
How do I know if my loan is owned or controlled by Fannie Mae or Freddie Mac?
Simply call or E-Mail me. I'll help you determine if your mortgage is backed by Fannie Mae or Freddie Mac, or
Yes. Eligible loans will include those where the first mortgage exceeds the current market value of the property.
Apply for HARP online, call or visit my office to discuss your specific situation and to examine your options. If this plan is right for you, we can begin working on your refinance immediately.
- Recent pay stubs to help determine your gross (before tax) household income.
- Your most recent income tax return.
- Information about any second mortgage on your house.
- Account balances and minimum monthly payments due on all of your credit cards.
- Account balances and monthly payments on all other debts, such as student loans and car loans.
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