The harp program is the Home Affordable Refinance Program. This helps people that need more finance but normal lenders are not willing to take the risk because of low and unsure property prices in today’s housing market. Many people have this problem and this was set up to help these people who may need finance for a number of reasons and this gives them a chance to get this.

The mortgage will have to be owned by Fannie Mae or Freddie Mac. This is easy to find out if you do not know. Just go online and type your zip code in and the system will tell you. Some people have a mortgage that is higher than the home is worth. With this process you can still apply as long as the outstanding mortgage is not more than one and a quarter times your mortgage.

With the problem of differences in value happening a lot in the market today systems such as this are needed to help people out with their finances. Not all people will qualify but many will be able to get help.

Included in the guidelines that have to be followed is that the payments you have made cannot be more than 30 days late. Other rules will need to be followed and these can be found on the website.

Once you find out that you may qualify you will then have to fill in an application. This can be found on the internet and it needs to be filled in correctly. There is also a fee and this will have to be paid before you progress.

The harp program has helped a lot of people and will continue to do this in the future. People who are interested need to find out if they qualify and then follow the rules to see if they will be successful. This will help a lot of people for the future.

Learn more here: harp program