Christian Pak Managing Partner Homeland Financial Phone: (404) 939-0502 Fax: (678) 638-1215 License: 162627 cpak@homelandmtg.com www.christianpak.com

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HARP 2.0 Refinance program

HARP 2 Refinance Program is Available 
See If You Can Benefit

HARP 2.0 as it is being called will allow refinancing to more homeowners who are underwater. This program is a revision to the current Home Affordable Refinance Program (HARP).

So what does this mean?

This means that if your mortgage is owned or guaranteed by either Freddie Mac or Fannie Mae, you may be eligible to refinance your mortgage under the enhanced and expanded provisions of HARP.

You can determine whether your mortgage is owned by either Freddie Mac or Fannie Mae by checking the following websites:

• http://www.freddiemac.com/mymortgage
• http://www.fanniemae.com/loanlookup/

Following are some particulars of the program:

1.     No LTV (loan to value) limitations. This means that no matter how upside down you are, you can still refinance.

2.     Cannot have any late payments to mortgage in the past 6 months and no more than 1 30-day late in the past 12 months.

3.     If you currently have PMI (private mortgage insurance), you can still qualify and transfer the MI to the new loan.

These are the main rules but additional guidelines could apply based on each individual borrower’s qualifications. Please contact me for additional information and start the refinance process to lower your mortgage payment.