Loan Modification program to get one more year
By Dan Edwards 425-276-7008
(Keller Williams Realty - Bellevue)
Loan Modification program to get one more year. In a press release sent out yesterday by the Federal Housing Finance Agency the administration has determined that due market conditions they will extend the current Home Affordable Refinance Program(HARP) for one more year. "to support and promote market stability, and to encourage lenders and other mortgage market participants to fully adopt the HARP program, including the implementation of the October 2009 expansion of loan-to-value ratios (LTVs) to 125 percent, FHFA is authorizing the extension of HARP until June 30, 2011." EligibilityYou may be eligible for a Home Affordable Modification if you:• Own a 1- to 4-unit home that is your primary residence.• Got your mortgage on or before January 1, 2009.• Have a mortgage payment (including...
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