The Home Affordable Refinance Program ( HARP ) lets homeowners refinance into a low mortgage interest rates, even if their property has decreased in value. It was established in 2009 for Fannie Mae and Freddie Mac and applies to homeowners who no longer qualify under traditional underwriting criteria.

You may be eligibly for HARP if you meet all of the following criteria:

• The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae.
• The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.
• The mortgage cannot have been refinanced by HARP from March-May 2009.
• The current loan-to-value ( LTV ) ratio must be greater then 80%.
• The borrower must be current on the mortgage at the time of the refinance, with good payment history in the past 12 months.

If you would like to see if the HARP program makes sense for you please contact Rachel Von Ins with Ross Mortgage Corporation 616-886-1507.