Certified Forensic Loan Auditors, LLC

 
  Upcoming Classes

Search CFLA's Article Archive:

HARP Program Extended By 2 Years

theledger.comMay 4, 2013

By Mary Ellen Podmolik

Underwater homeowners with Fannie Mae- and Freddie Mac-backed mortgages will be able to try to refinance their mortgages for another two years.

The Federal Housing Finance Agency announced Thursday that Fannie and Freddie's Home Affordable Refinance Program, which was set to expire Dec. 31, will be extended until the end of 2015.

"More than 2 million homeowners have refinanced through HARP, proving it a useful tool for reducing risk," FHFA acting director Edward DeMarco said in a statement.

According to the most recent data, in January alone, 1 in 5 refinancings of Fannie and Freddie-backed loans occurred under HARP. Of the loans refinanced under the program that month, 25 percent had a loan-to-value ratio of greater than 125 percent.

Eligibility for the program, announced in early 2009, remain the same. The mortgage must be owned or guaranteed by Fannie or Freddie on or before May 31, 2009, and the current loan-to-value ratio must be greater than 80 percent.

In addition, borrowers must be current on their mortgage payments, with no late payments in the past six months and they cannot have made more than one late payment in the past 12 months.

To apply for the program, borrowers should contact their existing lender or another lender participating in the program. Consumers do not need to use outside companies that bill themselves as "mortgage experts" or "foreclosure specialists," the agency said.


Back to May 2013 Archive

CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

SEE BELOW- http://www.certifiedforensicloanauditors.com

Call us toll free at 888-758-2352

Bookmark and Share
spacer
Facebook Like us on Facebook
Twitter Follow us on Twitter
YouTube View our YouTube Videos
LinkedIn Connect to us on Linkedin
 
BBB Logo

 

spacer
Contact us or view our Sample Documents & Audits by completing the form below.

  • Reload
  • Should be Empty:




 

DVD Sets Only $99

 

FREE Mortgage Fraud Analysis

 

Order Cutting-Edge Services Now

 

Quiet Title Packages from Licensed Attorneys

 

Affiliate Services

 

CFLA Sponsored Attorney Links

 

Take-Home Education Package