If you’re not behind on your Florida mortgage payments but have been unable to get traditional refinancing because the value of your Florida home has declined, you may be eligible to refinance your underwater Florida mortgage with the Home Affordable Refinance Program (HARP). HARP is designed to help you get a new, more affordable, more stable Florida mortgage refinance. HARP refinance home loans require a loan application and underwriting process, and refinance fees will apply.
HARP REFINANCE ELIGIBILITY FOR FLORIDA HOMEOWNERS–you may be eligible to refinance your underwater florida Home with HARP if you meet all of the following criteria:
- The Florida mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae. Check Here-Fannie search [click here] or Freddie Freddie search [click here].
- The Florida mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.
- The Florida mortgage cannot have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.
- The current loan-to-value (LTV) ratio must be greater than 80%.
- Florida underwater loan applicants must be current on the Florida mortgage at the time of the refinance, with a good payment history in the last 12 months.
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