Zillow’s HARP Eligibility Calculator: Taking the Confusion Out of HARP 2.0 Program
In an effort to help homeowners figure out whether they qualify for the HARP 2.0 program, which was announced Tuesday by Fannie Mae and Freddie Mac, Zillow has launched an easy-to-use HARP Eligibility Calculator.
According to the Federal Housing Finance Administration (FHFA), the revamped HARP 2.0 program should double the number of homeowners who are able to refinance their mortgage since the deadline has been pushed out to Dec. 31, 2013. However, to qualify to refinance your underwater or near underwater mortgage, you must meet a strict set of eligibility guidelines, which are addressed in Zillow’s HARP Eligibility Calculator.
How it works:
Homeowners are asked a series of 6 questions to find out if they’re likely eligible for a HARP refinance, or not. If a homeowner’s answer disqualifies them from the HARP plan, an explanation is given as to why they are not eligible. It is simple and easy. Try it out for yourself.
What to do if your are eligible:
If after using the HARP Eligibility Calculator you find that you are likely eligible to refinance your mortgage under HARP, contact your current loan servicer (the company you pay your mortgage to) to see if they are participating in the program. If your loan servicer is not participating, you can do a HARP refinance through any other participating lender.