Who Qualifies For HARP (Home Approval Refinance Program) in Phoenix, Arizona?
The HARP Refinance is mainly targeted at rewarding homeowners who have been making their payments on time, but can’t qualify for a traditional refinance due to their high loan to value, (the fact that they owe more than 125% of what their property may sell for).
Here are a few of the new HARP Program qualifying guidelines:
•Loan is backed by Fannie Mae or Freddie Mac
•Your current upside down Phoenix mortgage home loan must have been securitized prior to June 1, 2009
•You must be paid on-time for the prior 6 months
•You must be paid on time for 11 of the last 12 months
Get In The Front Of The HARP 2 Refinance Line:
It may be until early March before banks will start accepting applications for HARP Refinances, but the numbers of packages are already stacking up…and if the program is all that we hope it will be for Arizona home owners, there will be a bunch of people running to get through the door.
Your best option is to get everything ready to go so you can be one of the first through the door. Get started by contacting me today. If you are underwater on your mortgage, regardless of whether or not you think you qualify, give me a ring at 623.594.7600 to schedule a strategy session.
Jim Barnett's Blog 