Give us a call at 303.779.0591

Extension on HARP

Extension on HARP

The Federal Housing Finance Agency (FHFA) released yesterday that The Home Affordable Refinance Program (HARP) has been extended for two more years, December 31, 2015.  The program was set to expire on December 31, 2013. “More than 2 million homeowners have refinanced through HARP, proving is a useful tool for reducing risk”, said FHFA Acting Director Edward J. DeMarco. “We are extending the program so more underwater borrowers can benefit from lower interest rates.”

What does this mean?

This means that for those of you that have a mortgage that is serviced with either Freddie Mac or Fannie Mae and the value of your home has declined, leaving you owing more than what your home is worth, this refinance program gives you the opportunity to take advantage of the low rates and refinance.

Many think because they may have no or little equity in their home that they are unable to refinance, this program makes it possible. The goal of this refinance program is “to provide access to low-cost refinancing for responsible homeowners suffering from the falling home prices.” As stated by the President.

Make sure to read more about the HARP program and see if you are eligible.  Please also see if your mortgage is serviced by Fannie Mae or Freddie Mac.

If you have any questions please don’t hesitate to contact us.  We are always here to help.

~Ray Williams

Share this post:

This field is for validation purposes and should be left unchanged.
Mortgage Advice
View All
Denver 411
View All
303.779.0591
[email protected]
Hablamos Español

Licensed in Colorado as Maestro LLC (DBA Mortgage Maestro Group) is an Equal Housing Lender.

387 N Corona St #646, Denver, CO 80218.

NMLS Unique Identifier #1838215

Consumers wishing to file a complaint against a company or a residential Mortgage loan originator should complete and send a complaint form to the Texas department of savings and mortgage lending, 2601 North Lamar, suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the Department’s website at www.sml.texas.gov. A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov.

Home Mortgage Disclosure Act Notice. The HMDA data about our residential mortgage lending are available online for review. The data show geographic distribution of loans and applications; ethnicity, race, sex, age and income of applicants and borrowers; and information about loan approvals and denials. HMDA data for many other financial institutions are also available online. For more information, visit the Consumer Financial Protection Bureau’s website.

Website by Sparkling Marketing, Inc.