The Home Affordable Refinance Plan (HARP) is set to expire on December 31, 2015. Many Americans remain unaware of the program at all, much less that they may lose the opportunity to benefit from it later this year. Therefore, if you could benefit from a lower home mortgage payment and lower interest rate, now is the time to seek assistance.
The HARP Program is a federal program set up in 2009 to help financially distressed homeowners refinance their current mortgages that are underwater or close to it. The government has recently extended the deadline to December 31, 2015 and also expanded the eligibility criteria to be able to help more homeowners.
If you have been unable to obtain a refinance because the value of your home has declined, you may be eligible for a refinance under the HARP Program for a more affordable mortgage. You will still be required to go through a normal loan application process and underwriting process.
You can find out how to get started and learn more about this program by visiting the website (link here www.harpprogram.org). It is fairly easy to apply for this yourself and navigate the process successfully. Beware of outside companies that you may find on the internet or receive solicitations from who state they can help you obtain the HARP benefits and will charge you an upfront fee to do so. It is not necessary to hire someone to help you with this process.
If you are having additional mortgage or debt issues that cannot be helped by this program, you may have other options to help you with your mortgage. If you would like to discuss these issues with an experienced attorney, please call our office nearest you and schedule a free, confidential consultation.
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Amy K Tanner is a shareholder in several of the Bond & Botes Law Offices. She holds a Bachelor of Science from Auburn University at Montgomery, and a Juris Doctorate from Thomas Goode Jones School of Law. She focuses primarily on consumer bankruptcy law in the Huntsville and Decatur offices.Read her full bio here.