Specific requirements should be satisfied to qualify for HARP. While there is certainly extra standards implemented of the mortgage servicer, government entities conditions are listed below:
- The mortgage need to be possessed or guaranteed of the Freddie Mac or Federal national mortgage association. Of numerous homeowners try clueless you to definitely the mortgages is actually linked to that of those organizations, given that none Freddie Mac computer nor Fannie mae sale personally on social.
- The mortgage have to have come gotten from the Freddie Mac computer or Fannie Mae towards the or before .
- The fresh citizen ought not to has a previous HARP re-finance of mortgage, until its a federal national mortgage association financing that has been refinanced lower than HARP throughout the .
- The brand new resident must be latest on their home loan repayments, and no (30-day) later repayments within the last six months no more one late commission within the last twelve months. Devam