Federal Housing Finance Authority (FHFA) Director Mel Watt joined housing experts and community leaders at Ebenezer Baptist Church today to highlight the benefits of HARP and to help community leaders encourage the more than 34,000 Atlanta area residents still eligible to participate to take advantage of HARP. Eligible borrowers could save as much as two thousand dollars each year by refinancing their mortgage.
To qualify for HARP:
- Loan must be owned by Fannie Mae or Freddie Mac
- Current loan-to-value ration is greater than 80%.
- Must be current on the mortgage
- Loan was originated on or before May 31, 2009
Is the homeowners loan owned by Fannie or Freddie?