No home equity? We can help you with that!
Through HARP, you can get financing for your property, even when the value has decreased and you owe more than your house is worth.
Your mortgage has to be guaranteed by Fannie Mae and Freddie Mac, and its closing date has to be on or before May 31, 2009.
Mortgage payments must be up to date. No 30-day+ late payments in the last 6 months. No more than one late payment in the past 12 months.
You could qualify for HARP even with:
Little equity in your property, or if you owe more than the value of the property.
No money for closing costs.
Reasons why you should refinance with HARP:
Reduce your interest rate.
Obtain a mortgage with fixed interest that does not fluctuate over time.
Lower the term of the loan (30 years are not necessary).