HARP & HAMP Extended Through 2016

The Federal Housing Finance Agency announced an extension through 2016 for its HARP and HAMP plans for borrowers looking to save money on their mortgages. HARP (Home Affordable Refinance Program) and HAMP (Home Affordable Modification Program) were set to expire at the end of 2015. With the new extension, these mortgage relief programs will continue making homes more affordable for borrowers who are making payments on underwater properties, in the case of HARP, and for borrowers who are facing financial hardship and may be delinquent on their payments, in the case of HAMP. Check out this episode of Big Money Real Estate with Ilyce Glink to get more information on whether you may be able to take advantage of either HAMP or HARP to save money on your mortgage. Follow these links to the FHFA’s web resources on HARP and HAMP for details. And check out Ilyce’s Intentional Investor Series to learn everything you need to know to become a successful investor in real estate.