I've had some questions about eligibility for the HARP program.
The important thing to understand is that HARP is that it is intended for people who are not delinquent on their mortgages, and have been current for the past 12 months who are paying high interest rates on homes that have decreased in value to less than the mortgage balance. In other words, if you have not been able to refinance to a lower rate because your home will not appraise at a high enough value for a traditional refinance, HARP will allow you to take advantage of lower interest rates. There are some other requirements as well. You can find answers to the most frequently asked question at http://harpprogram.org/faq.php.
The program continues through December 31, 2015.
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