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How Underwater Seattle Homeowners Can Refinance with HARP 2.0

Are you a Seattle homeowner who is currently underwater on your home loan? You may be eligible to refinance with HARP 2.0.

HARP (Home Affordable Refinance Program) originated in 2009. This government program was designed to help the many homeowners nationwide who had zero or negative equity in their homes. Previously, these underwater homeowners could not refinance, but with HARP 2.0, that all changed, and eligible homeowners are now able to participate in current mortgage lending programs and refinance with lower monthly payments.

For you to be eligible for HARP 2.0, you must meet the following requirements:

  • Your loan must be backed by Freddie Mac or Fannie Mae

  • Your mortgage should have been bought by Fannie Mae or Freddie Mac before June 1st, 2009.

  • You must be current on your mortgage payments for the last six months

  • You cannot have more than one late mortgage payment over the past 12 months

  • The mortgage cannot have already been refinanced through HARP in the past, with the exception of Fannie Mae loans that were HARP refinances between March and May 2009

Please note that USDA, FHA or Jumbo mortgages are not eligible at this time.

HARP 2.0 is a limited time program, ending Dec. 31st, 2013, so do not delay taking action.

Right now is a terrific opportunity to take advantage of historic low rates. The mortgage lending experts at Sammamish Mortgage can help determine your eligibility for the HARP 2.0 program. If you are eligible, we will then guide you through the application process and get you on your way to better rates, lower payments, and a quicker return to re-establishing equity in your home.

We’re your Seattle Mortgage Lending experts and we’re looking forward to hearing from you.

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