HARP LOANS?WHAt ARE

SEE if it cOuLd bE RigHt fOR yOu.

HOmE AffORdAbLE REfiNANcE PROgRAmThis program helps homeowners refinance their mortgages when otherwise, they may not qualify because the value of their house has fallen.

WHy iS it NEEdEd?

Q.

many responsible homeowners have been unable to get traditional refinancing.

A.

WHy iS it NEEdEd?

Q.

HARP is designed to help by providing eligible homeowners with more affordable, stable mortgages.

= $

”“to provide access to low-cost refinancing for responsible homeowners suffering from falling home prices.

President Obama stated that the goal of HARP is

Refinancing can make a big difference in the financial life of a responsible homeowner.

HOW dO i kNOW if A HARP LOANmAy bE RigHt fOR mE?Q.

At the highest level, HARP loans are designed to help homeowners who:A.

Q.HOW dO i kNOW if A HARP LOANmAy bE RigHt fOR mE?

1 Are current on their mortgage payments.

2 Have a house that has dropped in value so much that they owe more than it is worth.

&

tO bE ELigibLE

your mortgage must be owned or guaranteed by either freddie mac or fannie mae.

You must be current on your mortgage payments. And, you cannot have made any late payments for 6 months before you apply.

To find out if your mortgage is owned by either of them, use the loan lookup tools on their websites.

www.knowyouroptions.com/loanlookup www.freddiemac.com/mymortgage

You can also call their toll free numbers.1-800-7FANNIE & 1-800-FREDDIE

SOmEtHiNg ELSEtO cONSidER

HARP loans require a loan application, underwriting process, and loan approval. there are terms, conditions and limitations including loan to value limitations for HARP loans.

When calculating your fees, make sure that your closing costs do not exceed the savings you’ll realize through refinancing.

FoR complETE DETAIls oN THE HomE AFFoRDAblE REFINANcE pRogRAm, coNTAcT YouR moRTgAgE sERvIcER oR ANoTHER lENDER AppRovED bY FANNIE mAE oR FREDDIE mAc.

You ARE FREE To woRk wITH ANY moRTgAgE lENDER As loNg As THEY pARTIcIpATE IN HARp.

FoR ADDITIoNAl DETAIls, vIsIT REgiONS.cOm/HARP.

This information is general in nature and is provided for educational purposes only. Regions makes no representations as to the accuracy, completeness, timeliness, suitability, or validity of any information presented. Information provided should not be relied on or interpreted as accounting, financial planning, investment, legal, or tax advice. Regions encourages you to consult a professional for advice applicable to your specific situation.