Harp 2 refinance program that is aimed to help underwater home owners over 125% loan to value and is still in the works, due to Fannie Mae and Freddie Mac updating the AUS (Automated Underwriting System) this is due to be completed by mid March. Until then very few lenders if any are accepting Manual files, as this process increase the risk for final lenders. So sit tight, make sure you contact your local mortgage broker as he can shop your mortgage with several lenders which enhances your chances of getting refinanced as soon as possible...June 30th, 2012 in the proposed cutoff on Harp1 but with the addition of HARP 2 they will extend the new program till the end of 2013. Lenders do not have to participate, that is why seeking a well qualified Mortgage broker could prove to be your best plan of action, again as they work with several banks.

To apply for HARP, applicants must first meet 4 basic criteria :
1.The existing mortgage must be guaranteed by Fannie Mae or by Freddie Mac
2.The existing mortgage must have been securitized by Fannie Mae or Freddie Mac prior to June 1, 2009
3.The mortgage payment history must be perfect going back 6 months
4.The mortgage payment history may not include more than one 30-day late payment going back 12 months
If you meet the above criteria, then call me ASAP and I will qualify your eligibility....

when you only want the Best....

Ralph Guertin

Ralph@absolutelowrates.com or call me 954-274-7725