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Will I qualify for the new HARP program?

I have a home owned by Freddie Mac, but I've had a late payment about 5 months ago, which I think is an issue. My credit has remained okay, around 680 FICO and my LTV is still around 125%. If I keep my payments steady and keep a decent credit, will I be able to take advantage of the new HARP when it gets released? by henry._134_884 from Lawton, Oklahoma. Dec 16th 2011 Reply


Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 1,823 contributions

Although the final details of the new HARP program have not been finalized and released, if you have only one 30 day late payment in the last 12 months, you should not be excluded from the program.

Dec 16th 2011
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Kiyoshi Inui (Kiyoshi)
#536 ranked lender in California - 109 contributions

you want to aim for a credit score 700+ (huge difference in pricing). Currently most lenders are only going to an LTV of 105%, but as of march 2012 125% will not be a problem (HARP 2.0). In the meantime, this should be a perfect time frame for you to work on improving your credit scores to achieve the best rate.

Dec 16th 2011
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