The Home Affordable Refinance Program, version 2.0 (aka HARP 2.0) is a streamline refinance program authorized by Congress for loans owned by Fannie Mae and Freddie Mac.
The goal is to allow homeowners who have been making on-time mortgage payments on these loans to refinance at today’s low rates even if their loans are greater than the property’s current value. (Note: your loan does not have to be more than what the property is worth to take advantage of this program).
The process has been streamlined and in certain instances, no appraisal is required.
If your loan closed on or before May, 2009,