HARP 2.0 Guidelines Released

The 2011 HARP guidelines have been released! Here are the key points:

• Current LTV(loan-to-value) cap of 125% lifted
• Appraised value will not matter!
• The current price adjustments based on equity (or lack thereof) will be reduced or even eliminated
• Really helpful for those far underwater or with a 2nd Mortgage
• Loan amount less than 125% LTV – Refinance after 12/1/11
• Loan amount greater than 125% LTV – Still waiting on guidance from lenders
• Program at full capacity by March 2012

If you closed on your current mortgage before 5/31/09, you must look into refinancing.  All excuses are officially off the table, and if your loan is backed by Fannie Mae or Freddie Mac, YOU CAN REFINANCE!

Check out more details on HARP here