But wait there’s more! The Federal Housing Finance Agency is trying one last time, or so we think, to capture the remaining 323,000 homeowners who could save an average of $2,400 per year through the Home Affordable Refinance Program.
In a surprise move, the FHFA announced it extended the HARP until Sept. 30, 2017 in order to create a smoother transition period for a new refi product it is planning to launch toward the end of 2017.
The FHFA, as a result, revived its hashtag #HARPNow and social media campaign to reach as many borrowers as possible until the deadline hits.
— FHFA (@FHFA) September 13, 2016
The FHFA first launched the campaign back in February when it was presumed that HARP would end at the end of 2016. The 10-day social media campaign premiered, using the hashtag #HARPNow to get the word out that HARP expires in December
In addition to the new push, the FHFA also published a blog with 3 steps for homeowners on what to do from here:
- Check eligibility,including whether Freddie Mac or Fannie Mae own their current loan.
- Gather information. Pull together their mortgage statements, tax returns, and bank statements.
- Contact an approved HARP lender. Check here for Freddie Mac or Fannie Mae. Lenders who participate in HARP will walk homeowners through the entire process, all the way through to closing.
Follow the FHFA’s Twitter account for more: