The major change is not reflected in the list of guidelines. (Taken from the official Home Affordable Refinance Program website ) The borrower must be current on the mortgage at the time of the refinance, with a good payment history in the past 12 months.The current loan-to-value (LTV) ratio must be greater than 80%.The mortgage cannot have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.
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