Government HARP an option for 7,000 in Indiana

BEWARE OF MANY INTERNET SCAMS SEEKING TO CHEAT PEOPLE!   SEE THE GOVERNMENT SITE AT http://www.harp.gov/ for legitimate information, and various tools to see if you qualify.

What is the HARP Program?

When you have little equity in your home, or owe as much or more on your mortgage than your home is worth, it can be difficult to find a lender willing to help you refinance. But for borrowers who have remained current on their mortgages, and have loans owned by Fannie Mae or Freddie Mac, there is hope. It’s called HARP.

Introduced in March 2009, HARP enables borrowers with little or no equity to refinance into more affordable mortgages without new or additional mortgage insurance. HARP targets borrowers with loan-to-value (LTV) ratios equal to or greater than 80 percent and who have limited delinquencies over the 12 months prior to refinancing.

Significant changes have been made to HARP since the program was first introduced. For example, in 2011 the LTV ceiling was removed, property appraisal requirements were waived in certain circumstances, certain risk fees for borrowers selecting shorter amortization terms were eliminated, and certain representations and warranties were waived. In 2013, the eligibility date was changed from the date the loan was acquired by Fannie Mae or Freddie Mac to the date on the note, increasing the pool of eligible borrowers.

HARP has also been extended several times and will now expire on December 31, 2016.

Through HARP, you can get a lower interest rate (which means less out-of-pocket costs each month), get a shorter loan term, or change from an adjustable to fixed-rate mortgage. There’s no minimum credit score needed, either.

BEWARE OF MANY INTERNET SCAMS SEEKING TO CHEAT PEOPLE!   SEE THE GOVERNMENT SITE AT http://www.harp.gov/ for legitimate information, and various tools to see if you qualify.



Getting Ready

Picture of Rick & Tremont clean out the storage closet

Rick & Tremont clean out the storage closet in preparation for an incoming donation.

Rick and Tremont clean out the storage closet in preparation for a donation of hospitality supplies from the employees at Aetna Insurance , a block east of Adult Life Training on Coliseum in Fort Wayne. Aetna has had a food drive collecting hospitality supplies to help us better serve the public in computer classes or when they come in for a coffee to relax or check their email.