by qmoorhead
9. November 2011 06:05
Next week Fannie Mae and Freddie Mac are to announce sweeping changes to the HARP program. Expected changes include -- Higher LTV's (above 125%), shorter amortization periods (pay down mortgages sooner), and reduced appraisal requirements, to name but a few. Various other eligibility factors appear to remain unchanged, such as that the loan has to be owned by Fannie or Freddie prior to and continually since May 31, 2009.
We will continue to monitor and advise when all parameters have been issued and rules issued by our various lenders.
Please do not hesitate to contact us should you wish us to contact you directly when these changes are published.
Happy Veterans Day to all the men and women who have served.
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