A federal program was established to help borrowers that owe more on their mortgages than the home is worth......HARP.  The program is limited to mortgages that were sold to Fannie or Freddie on or before May 31, 2009.  If your loan was made after that date, then you are not eligible.

A few things to consider about HARP:

1. You do not have to upside-down on your mortgage to be eligible for HARP refinancing.  The program is open to borrowers with loan-to-value of 80% or more.

2. To be eligible, you must first ask your lender.  However, one of the requirmements is not missing a payment in the last few years.

HARP allows lenders to orginate a new loan with an interest reate about 0.25 percentage point above the market rate.

If a HARP loan fits your needs, please consider requesting Legacy Title Company, LLC to assist you with the closing process.