| It is recommended you avail the benefits offered by | | | | facilities. |
| the Making Home Affordable Program which is | | | | You should be paying your monthly mortgage |
| supported by the federal government, and | | | | payments regularly, and should not be more than 30 |
| restructure your existing your mortgage loan to | | | | days late on your loan payments in the last 12 |
| make it more affordable to repay. The Making Home | | | | months. |
| Affordable Program consists of two main parts: | | | | Your credit history should reflect the fact that you |
| The Home Affordable Modification Program | | | | have been regular in your monthly payments. In case |
| (HAMP) | | | | your credit record indicates a default or missed |
| This option makes it possible to restructure or | | | | payments, the debt management experts mortgage |
| modify your existing mortgage loan, and make it | | | | refinance firm can help you in repairing your credit |
| more affordable to repay by reducing the monthly | | | | records through credit repair programs, and make |
| repayment amount and/or extending the loan | | | | you eligible for your mortgage refinancing. It is |
| repayment time or the loan tenure. | | | | imperative to follow the guidelines as mentioned in |
| The Home Affordable Refinance Program | | | | the home affordable refinance program details |
| (HARP) | | | | provided by the federal government. |
| The HARP mortgage refinancing option supports the | | | | You have to convince you can support and |
| refinancing activity which makes it possible to change | | | | meet the new mortgage payments. |
| your existing mode of mortgage interest rate, and | | | | It is very important to convince that you can meet |
| make your repayment options easier to cater to. | | | | the proposed refinancing terms and conditions, and |
| One has to become eligible, or qualify for the HAMP | | | | you will be making regular monthly payments for |
| or HARP to avail the benefits. The loan and debt | | | | your loan redemption. The loan experts can prepare |
| management experts will help you become eligible for | | | | your case, and help you out with the required |
| your HAMP or HARP benefits. | | | | financial statements and documents indicating you |
| The Home Affordable Refinance Program (HARP) | | | | have enough monthly income to make regular |
| The government refinance program "HARP" | | | | payments. |
| presented by the Obama administration in 2009 | | | | How to apply for your Home Affordable Refinance |
| intends to provide opportunities for American | | | | Program - HARP |
| homeowners facing delinquency problems to avoid | | | | As per the guidelines set by the federal government, |
| foreclosures and bankruptcies, and keep their homes. | | | | the lender or the loan provider should be approved |
| It is possible for home owners to restructure or | | | | by, or working with Fannie Mae or Freddie Mac. |
| change their existing mortgage loan terms and | | | | Mortgage refinance firm can provide you with the |
| conditions and avail favorable loan repayment | | | | home affordable refinance application and guide you |
| conditions through the making home affordable | | | | how to fill up the form. Generally the following |
| refinance program. It is important to become eligible | | | | information needs to be provided for your application: |
| for the program - you need to qualify. Refinancing | | | | Statements about your monthly gross income |
| helps the applicants in becoming eligible for the | | | | before paying your taxes, recent pay slips or stubs if |
| mortgage refinancing benefits. The basic | | | | you receive them from your employer, and |
| requirements are as follow: | | | | documentation indicating other sources of income if |
| You should own or occupy a 1 to 4 unit home. | | | | you have them. |
| The mortgage and broker experts can help you by | | | | Your recent income tax filing details and |
| providing sound and correct advice as well as | | | | documentation. |
| information related to home affordable refinance | | | | If you have any lien on your existing mortgage, |
| guidelines, and what type of documents you are | | | | documents stating the lien term and conditions. |
| likely to need for your refinance application. | | | | Your credit card dues and information regarding your |
| Your current mortgage loan should be either | | | | monthly credit card payments. |
| owned or guaranteed by Fannie Mae or Freddie Mac. | | | | Account balances of your existing loans and |
| This criterion needs to be fulfilled as it happens to be | | | | credit facilities availed such as student loans or car |
| one of the main pre-requisites for your refinance | | | | loans. |
| application. In case your existing loan has not been | | | | The success of your HARP refinance application |
| guaranteed, or taken from Fannie Mae or Freddie | | | | depends a lot upon your financial conditions, the |
| Mac, the loan experts will analyze your financial | | | | documents you attach with your application, and the |
| conditions and help you in availing the refinancing | | | | details you provide in the form. |