Fifth Third Harp Refinancing - Do you owe more on your home than it's worth?

A new option for people who owe more than the value of their home. If the value of your home has dropped you might still have an option to refinance through the government’s Home Affordable Refinance Program (HARP). And it just got better. Because now, Fifth Third has implemented the new guidelines that increase loan-to-value ratios. Translation: you might be able to refinance, even if you owe more than your home is worth

To be eligible for HARP:

  • The applicant has to be current on their mortgage payments with no late payments in the past six months and no more than one late payment in the past 12 months.
  • Their existing loan has to have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.
  • Their mortgage cannot have been previously refinanced under HARP.
  • How will they know if they have a Fannie Mae or Freddie Mac loan? Consumer lookup available at:

www.fanniemae.com\loanlookup

www.freddiemac.com\mymortgage

Contact Jennifer Taveras

Jennifer.Taveras@53.com

616-771-5706

2456 Eastern Ave SE, Grand Rapids, MI 49507